Jefferies raised the firm’s price target on MTU Aero Engines (MTUAY) to EUR 500 from EUR 470 and keeps a Buy rating on the shares. Skepticism about the sustainability of performance led to a weak share reaction despite a “stellar Q3,” but the firm believes the quarterly performance is indicative of strong spare parts drop-through that it assumes will remain strong, the analyst tells investors. The firm is reinstating MTU as its “Civil Top Pick,” the analyst added.
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