EADS "neutral," estimates reduced

28.07.06 - J.P. Morgan Securities

LONDON, July 28 (newratings.com) - Analysts at JP Morgan maintain their "neutral" rating on EADS (EAD), while reducing their estimates for the company. The target price is set to ?22.

In a research note published this morning, the analysts mention that the company has reported its 1H06 EBIT in-line with the consensus. EADS generated low free cash flows during the quarter, the analysts add. The company has reduced its EBIT guidance for 2006 from ?3.2-?3.4 billion to "around ?3.2 billion." The adjusted EPS estimates for 2006 and 2007 have been reduced from $2.45 to $2.40 and from $2.50 to $2.40, respectively.