Airbus Shares Jump 2.31% Following Citi's Upgrade to Buy

Citi Upgrades Airbus to Buy

This Thursday, the American bank Citi changed its stance on Airbus, moving from a neutral position to a buy recommendation. The price target was simultaneously raised from 208 euros to 217 euros, representing a potential increase of about 19.7% from the current price of 181.30 euros. This new positive signal provides tangible support to the stock at the start of the session, as the value had significantly declined in recent weeks. The Airbus general assembly is scheduled for April 14, followed by the publication of the first quarter results on April 28. These events are the next potential catalysts that could drive trading in the stock.

Airbus Still Below Moving Averages

Despite the rebound this Thursday, Airbus is still significantly below its 50-day and 200-day moving averages, which stand at 197.86 euros and 190.27 euros, respectively. This significant gap, ranging from 5 to 9% below these benchmarks, indicates a bearish trend that has been established for several weeks. However, the stock has found support near its technical support threshold identified around 175.42 euros, a level it has not crossed downwards. The RSI, an indicator measuring the relative momentum of the stock, is at 37, close to the oversold threshold (conventionally set at 30). This positioning suggests that selling pressure has been particularly strong in recent weeks, with the stock losing 1.72% over the past seven days. Over a year, Airbus still maintains a positive performance of 8.24%, indicating that the recent correction is part of a consolidation movement after a previous phase of progress.