Airbus U.S. shares initiated with an Outperform at Bernstein

Bernstein analyst George Zhao initiated coverage of Airbus U.S. shares with an Outperform rating and $51 price target. The stock is down 13% since hitting a peak of in late March, but Bernstein does not see major changes in the fundamental outlook for the stock, the analyst tells investors in a research note. However, the firm says investors will likely will need to wait until later this year to begin seeing more evidence to support the positive thesis. It sees the stock weakness tied to a focus on deliveries by shorter term investors. Longer term investors are staying with the stock given the extended supply/demand imbalance, contends the firm.