Airbus Group (EPA:AIR) is on track to meet delivery targets this year, after boosting the number of aircraft rolling off the production line in May, Jefferies analysts say.
63 Airbuses were delivered during the month, a rise of 34% on May 2022 and a 3% increase this year so far.
“This is a solid performance,” Jefferies noted, and sets Airbus on course to meet a full-year delivery target of 720 aircraft.
Over the course of 2023, Airbus has delivered 244 jets, with the majority being aircraft among its A320neo family, operated by the likes of easyJet, Wizz Air and British Airways.
“Notably, we flag that widebody deliveries have started to pick up,” Jefferies added, with five larger A350’s being delivered in May, compared to three last year and a year-to-date fall of 42%.
Airbus was given a share price target of €130 by Jefferies, up almost 3% on Wednesday’s close, alongside a ‘hold’ rating.
To meet delivery targets, Airbus will have to sustain a 14% year-on-year growth rate in each remaining month of the year.
“Limited” orders received in May is also nothing to worry about, Jefferies said, with the Paris Air Show, starting on June 19, likely to spur on “typical announcements” from airlines.