Airbus: Jefferies downgrades to 'hold'

(CercleFinance.com) - On Friday Jefferies downgraded on Airbus shares from 'buy' to 'hold', reducing its target price from E190 to E180.


While acknowledging that the aircraft manufacturer posted a "solid" Q4, apart from the new provisions booked on its defense and space business, the broker says that, over the coming quarters, it expects sentiment surrounding the stock to be dominated by production challenges and the integration of Spirit's aerostructures business.

Jefferies also explains that the absence of any further share buyback announcements should also provide less support for the share price.

In its research note, the broker adds that it plans to reassess its opinion on the file once the dynamic surrounding the A320 becomes more positive.


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