Airbus Lifted to Buy After Analyst Estimates Record June Deliveries

mwb Research upgraded Airbus (ETR: AIR) to Buy from Hold and raised its price target to EUR 215 from EUR 180 on Wednesday, after the firm said it sees record June deliveries effectively ended fears of a guidance cut that had weighed on sentiment since a weak first-quarter print.

Analyst Jens-Peter Rieck estimates Airbus delivered 87 commercial jets in June, following 81 in May and 67 in March, putting the second quarter on track for approximately 235 units.

That would represent “the strongest Q2 in company history, beating the previous record of 227 set in Q2 2019.” Rieck noted all three months “sit well above the ten-year Q2 monthly average of 56.”

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The pace is seen as particularly notable, mwb Research said, given that management had flagged persistent engine supply constraints on the first-quarter call and the market “had raised doubts about a potential guidance cut following the weak Q1 print.”

Rieck said the firm “no longer expects the guidance cut” it had previously pencilled in.

mwb Research raised its full-year 2026 delivery estimate to 870 units from 860, in line with Airbus’s own guidance of “around 870.”

To hit that target, Airbus needs to deliver 521 more aircraft over the remaining six months, or approximately 86 per month, which Rieck said “looks achievable at the current run rate.”

The new EUR 215 price target implies approximately 10.6% upside from current levels. Rieck maintained his long-run thesis that COMAC represents “a structural earnings risk from the mid-2030s.”

Airbus shares rose 1.9% on Friday and are up 11.8% over the past month.