Airbus: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF reiterates its 'outperform' rating on Airbus sand raises its target price from E180 to E195, after nudging up its EPS sequence for 2025-27 (excluding the integration of Spirit).
As expected, the 2025 guidance may be considered conservative, and Q1 will be very weak, but we prefer to see the glass as half full, the analyst says, who highlights a ramp-up that is now better mastered.
Oddo BHF believes that the delivery target demonstrates greater serenity regarding A320 Family expectations, and without exceptional effects (Spirit, French surtax), FCF 2025 would have reached 5.4 billion euros, i.e. +19% compared with 2024.
The broker also believes that the aircraft manufacturer's stock is trading at an attractive valuation, with an EV/EBIT of 15.6x, a 2026 P/E of 20.8x and an FCF yield of 4.8%, for a 2024-28 EPS CAGR of 24%.
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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 information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
As expected, the 2025 guidance may be considered conservative, and Q1 will be very weak, but we prefer to see the glass as half full, the analyst says, who highlights a ramp-up that is now better mastered.
Oddo BHF believes that the delivery target demonstrates greater serenity regarding A320 Family expectations, and without exceptional effects (Spirit, French surtax), FCF 2025 would have reached 5.4 billion euros, i.e. +19% compared with 2024.
The broker also believes that the aircraft manufacturer's stock is trading at an attractive valuation, with an EV/EBIT of 15.6x, a 2026 P/E of 20.8x and an FCF yield of 4.8%, for a 2024-28 EPS CAGR of 24%.
Copyright (c) 2025 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.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.