(AOF) – Deutsche Bank lowered its recommendation on Airbus from Buy to Hold while reducing its price target from 186 to 155 euros. A decision taken the day after the aircraft manufacturer’s warning. “We have significantly reduced our EBIT and free cash flow estimates by 13% to 20% for 2024-2026, as the ramp-up of deliveries is postponed for a year due to ongoing supply chain issues. ‘supply”, explains the German bank.
Additionally, Deutsche Bank points out that “space systems continue to underperform, after an already difficult 2023. The situation is reminiscent of 2022. The dust needs to settle before we can become positive again. June deliveries are apparently sluggish and there is no guarantee at this stage that the new delivery target will be easy to achieve by the end of the year.”
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