Target Price and Rating
- Target Price: Barclays has lowered the target price for Airbus from 190 to 185 euros, indicating changing market conditions and delivery forecasts.
- Rating: Despite the adjustment of the target price, the rating of the stock remains at “Overweight,” which suggests a positive risk-reward profile.
Market Assessments
- Delivery Numbers: The delivery forecasts for the entire year have been reduced by 8 to 820 aircraft. This is partly due to higher delivery numbers for the A220, which led to a shortage of engines for the A320 model.
- Operating Result: The changed composition of aircraft models results in a lower forecast for the operating result.
Market Environment
- Competition and Challenges: The aviation sector faces challenges such as the trade war, which affects sentiment in the commercial aircraft business. Nevertheless, Airbus and Boeing unexpectedly reported strong delivery numbers in the first quarter.
- Other Analysts’ Opinions: Other analysts like RBC Capital and UBS also see potential for the stock price of Airbus, although JP Morgan has lowered its target price to 180 euros.
Relevance for Investors
- Investment Decisions: Barclays’ evaluation and the assessments of other analysts can help investors make informed decisions about investments in the aviation sector.
- Risks and Opportunities: The analysis shows that Airbus has an attractive risk-reward profile despite the challenges, which could be interesting for investors.
Overall, Barclays Capital’s analysis provides a comprehensive assessment of the Airbus SE stock, considering both the opportunities and the risks in the current market environment.