On Friday, Barclays raised its price target for Airbus from €166 to €200, while maintaining its 'overweight' recommendation on the stock.
In a research note, the analyst points out that the aircraft manufacturer has delivered more aircraft than expected in 2024, with 766 civil aircraft invoiced, compared with 735 in 2023.
In his view, the evolution of the group's outlook in terms of deliveries is set to remain the main driver of its share price.
For 2025, Barclays says it expects 832 aircraft deliveries, followed by 915 aircraft in 2026 and 1005 in 2027, which should enable it to increase its operating income (Ebit) by more than 40% over the 2025-2027 period.
Airbus will unveil its delivery targets for the new 2025 financial year when it publishes its annual results, scheduled for February 20.
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Airbus SE is No. 1 in Europe and No. 2 worldwide in the aeronautics, aerospace, and defense industries. Net sales break down by family of products and services as follows:
- commercial aircraft (71.7%). The group is No. 1 worldwide for aircrafts with more than 100 seats;
- defense and aerospace systems (17.3%): military aircrafts (primarily transport aircrafts, marine surveillance aircrafts, anti-submarines fighter planes and flight refueling aircrafts), spatial equipment (orbital launchers, observation and communication satellite, turboprop aircraft, etc.), defense and security systems (missile systems, electronic and telecommunications systems, etc.). Airbus SE also provides training and aircrafts maintenance services;
- civil and military helicopters (11%).
Net sales are distributed geographically as follows: Europe (40.2%), Asia/Pacific (25.6%), North America (23.7%), Middle East (4.5%), Latin America (2.5%) and other (3.5%).
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