Airbus: Oddo maintains buy rating
(CercleFinance.com) - Oddo maintains its Outperform rating on Airbus shares, along with its target price of 145 euros.
Following comments made by many stakeholders on the slow improvement of the supply chain and the recent announcement of the departure of its CFO, Oddo believes that investors' expectations for the next meeting have been significantly reduced.
The risk of disappointment on short-term deliveries cannot be ruled out, the analyst says, adding that these short-term bottlenecks hide Airbus' transformation, its dominant position in single-aisle aircraft and the mix effect, as well as the disappearance of extraordinary items that have cost an average of 1.5 billion euros p.a. over the past five years.
Oddo concludes that based on its target price, the stock would still be trading at an attractive valuation with a 2024 P/E of 18.3x for a 2021/25 EPS CAGR of 20% and an FCF yield of 5.4%.
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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.
Following comments made by many stakeholders on the slow improvement of the supply chain and the recent announcement of the departure of its CFO, Oddo believes that investors' expectations for the next meeting have been significantly reduced.
The risk of disappointment on short-term deliveries cannot be ruled out, the analyst says, adding that these short-term bottlenecks hide Airbus' transformation, its dominant position in single-aisle aircraft and the mix effect, as well as the disappearance of extraordinary items that have cost an average of 1.5 billion euros p.a. over the past five years.
Oddo concludes that based on its target price, the stock would still be trading at an attractive valuation with a 2024 P/E of 18.3x for a 2021/25 EPS CAGR of 20% and an FCF yield of 5.4%.
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.