Airbus: removed from Goldman Sachs' Conviction List
(CercleFinance.com) - Goldman Sachs has removed Airbus shares from its EU Conviction List on Wednesday, saying that it sees a limited number of near-term catalysts.
The analyst, who nevertheless maintains a buy rating on the stock, also lowered his target price for it from 182 euros to 145 euros, to take into account the slower than expected ramp-up of A320 production.
Goldman points out that the aircraft manufacturer expects to reach a rate of 65 aircraft per month at the beginning of 2024, i.e. six months later than expected, which calls into question the initial target of 75 deliveries per month by 2025.
In its comments, the broker says that it nevertheless continues to appreciate the stock because of the visibility of its order book, the quality of margins, due to the company's product mix and a more flattering comparison basis.
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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.
The analyst, who nevertheless maintains a buy rating on the stock, also lowered his target price for it from 182 euros to 145 euros, to take into account the slower than expected ramp-up of A320 production.
Goldman points out that the aircraft manufacturer expects to reach a rate of 65 aircraft per month at the beginning of 2024, i.e. six months later than expected, which calls into question the initial target of 75 deliveries per month by 2025.
In its comments, the broker says that it nevertheless continues to appreciate the stock because of the visibility of its order book, the quality of margins, due to the company's product mix and a more flattering comparison basis.
Copyright (c) 2022 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.