EADS "buy"

18.01.07 - Dresdner Kleinwort Wasser.

LONDON, January 18 (newratings.com) - Analysts at Dresdner Kleinwort maintain their "buy" rating on EADS (EAD). The target price is set to ?30.

In a research note published this morning, the analysts mention that the company has guided to EBIT losses from Airbus for 2006, as compared to the estimate of profits of ?894 million. This primarily reflects a pull-forward of the restructuring expenses from 2007, the analysts say. According to Dresdner Kleinwort, a rights issue is expected to remove the uncertainty regarding the cash shortage at Airbus for 2009.