On Tuesday, Jefferies raised its price target for Airbus from €132 to €135, while renewing its buy recommendation on the stock.

In a study devoted to the aeronautics sector, the broker points out that the aircraft manufacturer is today less richly valued than before the Covid crisis, despite attractive prospects beyond next year.

With demand as buoyant as ever, it is only a matter of time before the A320neo takes off, the broker continues, believing that Airbus could surprise favourably on the operational front.

'The possibility of the announcement of share buybacks in 2023 should also encourage a definite revaluation', says Jefferies in its note.

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