Two analysts share their outlook on Airbus following delivery figures
The aircraft manufacturer reported yesterday 35 aircraft deliveries to 21 customers in February, while securing 28 new orders. Analysts from RBC Capital Markets and DZ Bank are sharing their sentiment on these figures as the stock gains nearly 2% in Paris.
RBC Capital Markets confirmed its "outperform" rating on the European planemaker's stock this morning with a "neutral" short-term sentiment, maintaining a price target of 225 euros.
The analyst estimates that the start of 2026 shows a delivery pace below market expectations, with 54 aircraft delivered by the end of February, approximately 17% less than during the same period in 2025. According to the firm, engine delivery difficulties at Pratt & Whitney are expected to remain a headwind throughout much of 2026, which could weigh on short-term sentiment, with a delivery profile more heavily weighted toward the second half of the year.
The research firm also indicated it has lowered its delivery forecasts for 2027 and 2028 to 955 and 1,049 aircraft, levels below the Visible Alpha consensus, suggesting that investors will remain primarily focused on the pace of deliveries rather than orders.
For its part, DZ Bank confirmed its "buy" recommendation on Airbus shares, with an unchanged price target of 227 euros.
The bank noted that the 35 aircraft deliveries in February represent a year-on-year decline, yet remain about five units above the five-year average. Deliveries notably included 23 aircraft from the A320 family, as well as six A350s.
The research firm added that supply chain difficulties - particularly regarding the A320 - continue to temporarily weigh on the production rate. DZ Bank nevertheless believes that deliveries should accelerate during the year, supported by consistently robust demand.
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 (70.1%). The group is No. 1 worldwide for aircrafts with more than 100 seats;
- defense and aerospace systems (18.2%): 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 (11.7%).
Net sales are distributed geographically as follows: Europe (40.8%), Asia-Pacific (28.0%), North America (17.7%), Middle East (9.0%), Latin America (2.7%), and Other (1.8%).
This super rating is the result of a weighted average of the rankings based on the following ratings: Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite) and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be carried out. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of rankings based on the following ratings: Returns (Composite), Profitability (Composite) and Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully read the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.