Bruce Murray, CEO and CIO of Murray Wealth Group, told BNN Bloomberg Market Call on March 11 that Airbus SE (Airbus SE Stock Quote, Chart, News, Analysts, Financials PA:AIR) represents an attractive opportunity following a recent pullback in the shares.
Murray said the aerospace manufacturer has declined roughly 20%, partly reflecting investor concerns tied to aviation traffic disruptions and safety issues in the United States.
Despite that, he said Airbus maintains a backlog exceeding 10 years for commercial aircraft, providing strong long-term visibility for its core airliner business.
Murray added that about 20% of Airbus’ business is tied to European defence, including the production of fighter jets and drones, positioning the company to benefit as Europe increases military spending.
“I think it’s just a very easy story,” Murray said. “It’s backed off about 20%. We think you’ll get that back and more over time. It’ll be a slow, steady upward trend.”
Of the analysts covering the stock, three rate Airbus “Buy,” one “Hold,” and none “Sell,” with a consensus price target of US$64.45.
The shares closed March 11 at US$51.49.
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