Airbus downgraded to Hold from Buy at Jefferies

Jefferies analyst Chloe Lemarie downgraded Airbus to Hold from Buy with a price target of EUR 130, down from EUR 135. The analyst said that, ahead of FY22 results due on February 16, the debate now moves onto what a conservative guide for 2023 could look like. The firm expects FY22 guide to be within reach but turns cautious on 2023 messaging given net inflation tailwinds in 2022 that will likely reverse and a history of conservative operating leverage guide.