UBS reaffirms its 'sell' recommendation on Airbus, as well as its price target of 110 euros, representing an estimated downside potential of 22% for the stock, citing a possible takeover of Atos' Big Data & Security business for 1.5 to 1.8 billion euros.

Although the size of the announced transaction is smaller than some had expected, investors will need to be informed of the benefits of a potential transaction, which limits the scope for share buybacks', he warns.

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