0549 GMT - Airbus is exposed to foreign-currency changes with costs in euros and sales predominately in dollars, Citi analyst Charles J Armitage says in a research note. A strong euro compared with the dollar means Airbus confronts higher costs, the analyst says. Any weakening of the dollar reduces the company's value, Citi says. The current spot rate between the euro and the dollar makes Citi reduce its target price on the European plane maker. In addition, Citi views Airbus as having insufficient upside and therefore reduces its rating on the stock. Citi downgrades its rating to neutral from buy, and reduces its target price to 183 euros from 209 euros previously. (pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
June 06, 2025 01:49 ET (05:49 GMT)
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