Airbus revises financial targets due to supply chain issues, causing shares to drop
From Morningstar: 2024-06-25 07:08:00
Airbus shares fell sharply on the Paris Bourse due to a profit warning, citing supply chain issues and write-downs. The company expects to deliver 770 instead of 800 aircraft this year. Airbus warns A320 production delays until 2027 and sets aside EUR 900 million for space programs. Adjusted operating income for 2024 is now expected at EUR 5.5 billion.
Analysts at Deutsche Bank downgraded Airbus from “Buy” to “Hold” with a target price of EUR 155. Citi analysts lowered forecasts for 2024-2027 by 12%-19%, but see a buying opportunity. RBC Bank maintains an “outperform” view with a price target of EUR 180. Morningstar analyst Nic Owens retains a fair value estimate of EUR 163 per share.
Read more at Morningstar: Airbus Shares Hit After Company Revises Financial…