(Boursier.com) — Airbus marks a break, down 2% to 117 euros on Friday… Over the past week, the title remains almost stable, however. The aeronautics giant recently unveiled robust results and 2023 objectives that are cautious but generally quite reassuring… Airbus has set itself a delivery target of 720 aircraft in 2023, the same as it had originally set. for 2022, before giving it up.
The group also targets for 2023 an adjusted EBIT of around 6 billion euros and a free cash flow before mergers and acquisitions and customer financing of around 3 billion euros. Among the latest opinions from brokers, Citi has adjusted its target from 166 to 165 euros with an opinion that remains for purchase. Deutsche Bank had already adjusted the target from 120 to 125 euros remaining to ‘keep’. Oddo BHF had previously raised its target price more generously from 139 to 145 euros (‘outperform’). “The 2023 targets are cautious, but perhaps a little less disappointing than some had anticipated after the indiscretions of recent weeks,” the broker explained. The only relative disappointment was related to FCF, but on the one hand, the company has historically beaten these targets and on the other hand, the current supply chain context may explain this caution at the start of the year. Stifel is now targeting 160 euros, against 140 euros previously, by remaining on the purchase…
Jefferies (‘hold’) said 2022 performance was “strong despite missed delivery target, while FCF’s outlook for 2023 is poor and Ebit guidance is reassuring.” The analyst estimated that the ‘rephasing’ of the production rate of the A320 family is “in line with expectations”, while the ramp-up of production of its wide-bodied aircraft is a “positive surprise”…
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