Bucking the positive trend in Paris, Airbus is down by less than 1% following a business update from the aircraft manufacturer, which claims 661 commercial aircraft deliveries for the full year 2022 (+8% on 2021).

The Visible Alpha consensus was anticipating 683 deliveries, whereas we were expecting 675," commented Oddo BHF, which nevertheless confirmed its 'outperform' rating and price target of 139 euros for the European aircraft manufacturer.

This is obviously less than we were aiming for", acknowledged Airbus CEO Guillaume Faury, who nevertheless emphasized "the significant order intake covering all aircraft families, including cargo aircraft".

Stifel, which is reiterating its 'buy' recommendation and price target of 140 euros, believes that underlying demand remains strong, helped by the reopening in China and the determination of Western airlines to restore their pre-Covid flight schedules.

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