Airbus: Near-Term Operational Pressures and Weaker Cash Flow Justify Balanced Hold Rating

Jefferies analyst Chloe Lemarie maintained a Hold rating on Airbus Group SE today and set a price target of €190.00.

Chloe Lemarie has given his Hold rating due to a combination of factors tied to Airbus’s near‑term operational and financial profile. The company’s commercial division is suffering from lower aircraft deliveries year over year, which hurts fixed‑cost absorption and weighs on profitability, while modest headwinds from currency hedging and higher R&D further constrain Q1 EBIT.

At the same time, free cash flow for the quarter is expected to be notably weaker than the usual seasonal outflow, driven by softer volumes, inventory accumulation to underpin future growth, and ongoing disruption from panel inspections, even though the early impact of the Spirit integration appears limited. Helicopters and Defense & Space are progressing steadily, but these strengths do not yet offset the temporary pressures on cash generation and margins, leading Lemarie to see the risk‑reward as balanced rather than compelling enough for a more positive rating.

According to TipRanks, Lemarie is a top 100 analyst with an average return of 30.4% and a 78.04% success rate. Lemarie covers the Industrials sector, focusing on stocks such as Airbus Group SE, HENSOLDT AG, and RENK Group AG.

In another report released on April 13, Exane BNP Paribas also initiated coverage with a Hold rating on the stock with a €190.00 price target.