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Dec. 10, 2019, 4:54 a.m. EST

UBS says European aerospace sector to get boost from Airbus exposure

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By Steve Goldstein

In a note on the European aerospace and defense sector, UBS said Airbus /zigman2/quotes/208224336/delayed FR:AIR +4.12% was its top pick as it also upgraded MTU Aero Engines /zigman2/quotes/208758886/delayed DE:MTX -1.43% , Bodycote /zigman2/quotes/208174467/delayed UK:BOY +2.23% and Leonardo /zigman2/quotes/210265245/delayed IT:LDO -2.00% to buy from neutral, and Qinetiq /zigman2/quotes/208172955/delayed UK:QQ +0.94% to neutral from sell. UBS also reiterated a sell on Meggitt /zigman2/quotes/208933633/delayed UK:MGGT +0.85% . UBS said 2020 is likely to be another good year for European civil names, which benefit from greater relative exposure to Airbus than to Boeing, and it's turning more positive on defense on the prospect of "more self-reliance" given Brexit and a contrasting U.S. stance.

/zigman2/quotes/208224336/delayed
FR : France: Euronext Paris
64.63
+2.56 +4.12%
Volume: 1.38M
Oct. 1, 2020 3:42p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€48.64 billion
Rev. per Employee
€476,596
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/zigman2/quotes/208758886/delayed
DE : Germany: Frankfurt
141.75
-2.05 -1.43%
Volume: 159.00
Oct. 1, 2020 1:02p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€469,335
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/zigman2/quotes/208174467/delayed
UK : U.K.: London
595.50 p
+13.00 +2.23%
Volume: 60,264
Oct. 1, 2020 2:41p
P/E Ratio
25.66
Dividend Yield
3.24%
Market Cap
£1.11 billion
Rev. per Employee
N/A
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/zigman2/quotes/210265245/delayed
IT : Italy: Milan
4.90
-0.10 -2.00%
Volume: 3.43M
Oct. 1, 2020 3:36p
P/E Ratio
5.31
Dividend Yield
2.86%
Market Cap
€2.88 billion
Rev. per Employee
€263,441
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/zigman2/quotes/208172955/delayed
UK : U.K.: London
280.40 p
+2.60 +0.94%
Volume: 564,424
Oct. 1, 2020 2:41p
P/E Ratio
15.10
Dividend Yield
2.35%
Market Cap
£1.58 billion
Rev. per Employee
N/A
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/zigman2/quotes/208933633/delayed
UK : U.K.: London
259.70 p
+2.20 +0.85%
Volume: 1.00M
Oct. 1, 2020 2:41p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£2.00 billion
Rev. per Employee
N/A
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