Airbus: Credit Suisse raises target price
(CercleFinance.com) - Maintaining its buy ("outperform") rating on the share of the aircraft manufacturer Airbus, this morning Credit Suisse welcomed the group's H1 accounts.
It has therefore raised its target price for the share from 130 euros to 140 euros.
Analysts point out that Airbus has reported H1 adjusted operating profit that is 12% above the consensus (communicated by the company), which comes as a pleasant surprise, as does its free cash flow generation. The main explanation for this is that its civil aviation division, where operating income came in 13% above expectations. Finally, management has maintained its forecasts.
Credit Suisse has increased its forecast for monthly A320 deliveries by 2022 from 63 to 65. It has also raised its operating profit expectations between 2020 and 2022, which explains why it has raised its target price for the share.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
It has therefore raised its target price for the share from 130 euros to 140 euros.
Analysts point out that Airbus has reported H1 adjusted operating profit that is 12% above the consensus (communicated by the company), which comes as a pleasant surprise, as does its free cash flow generation. The main explanation for this is that its civil aviation division, where operating income came in 13% above expectations. Finally, management has maintained its forecasts.
Credit Suisse has increased its forecast for monthly A320 deliveries by 2022 from 63 to 65. It has also raised its operating profit expectations between 2020 and 2022, which explains why it has raised its target price for the share.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.