(Boursier.com) — It’s UBS’s turn! Airbus is the victim of a new deterioration of analyst this Tuesday since after the Deutsche Bank, Kepler Cheuvreux or Jefferies, it is the Swiss bank which reduced its recommendation on the title to ‘sell’ while cutting its target of 139 at 105 euros. UBS believes consensus expectations overestimate the aircraft manufacturer’s long-term demand potential. The broker believes that business travel spending will be about 15% lower for the same level of economic activity post-Covid compared to 2019 with the increase in working from home and online meetings. He adds that Airbus’ order book is no bigger than it was between 2013 and 2018. Finally, UBS believes there will likely be sufficient, if not oversupply, of aircraft in 2023. , and therefore it is likely that Airbus will start to make price concessions.
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