Airbus: Near-Term Delivery Headwinds Temper Strong Long-Term Backlog, Justifying Hold Rating

In a report released today, Chloe Lemarie from Jefferies maintained a Hold rating on Airbus Group SE, with a price target of €195.00.

Chloe Lemarie has given his Hold rating due to a combination of factors pointing to near‑term softness despite a still‑solid long‑term backlog. Airbus’s February deliveries fell to 35 aircraft, a double‑digit decline from last year and below Jefferies’ expectations, leaving year‑to‑date volumes notably weaker and signaling a softer start to the year.

Operational headwinds, including delays linked to GTF engines and panel inspections, are already weighing on output, and the strong delivery base from March last year sets up a difficult comparison for the coming quarter. While order intake remains positive with no cancellations and a healthy book‑to‑bill ratio, the balance of near‑term execution risk versus long‑term demand justifies maintaining a neutral, Hold stance.

In another report released on February 23, Kepler Capital also maintained a Hold rating on the stock with a €196.00 price target.