The analyst confirms his Neutral rating on the stock, with an unchanged price target of E140.
'We are pessimistic on delivery growth rates, but optimistic on margins and pricing', says UBS in its study today.
For 2024, Airbus is targeting delivery of 770 commercial aircraft, adjusted EBIT of around €5.5 billion and free cash flow before customer financing of around €3.5 billion.
Airbus has achieved 50 deliveries to 29 customers in September 2024. Gross orders to September 2024 stood at 235. The Group recorded 497 deliveries to 77 customers in 2024 to the end of September.
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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 (71.8%). The group is No. 1 worldwide for aircrafts with more than 100 seats;
- defense and aerospace systems (17.4%): 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 (10.8%).
Net sales are distributed geographically as follows: Europe (39.3%), Asia/Pacific (28.6%), North America (21.1%), Middle East (6%), Latin America (2.7%) and other (2.3% ).
AIRBUS SE 
