As part of its CMD, MTU Aero Engines delivered an upbeat message for the short and long term, with better-than-expected growth across all businesses. At the bottom line, the EBIT margin is forecast to remain stable at around 15% (in line with our estimates), benefiting from the strong spare parts business. Even though the valuation appears to be full and the stock seems now to be expensive (high EV/EBITDA multiples), we confirm our positive view on the stock.
03 Dec 2018
A cloudless sky for MTU (CMD feedback)
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A cloudless sky for MTU (CMD feedback)
MTU Aero Engines AG (MTX:WBO) | 0 0 1.5% | Mkt Cap: 7,301m
- Published:
03 Dec 2018 -
Author:
Luis Pereira -
Pages:
4
As part of its CMD, MTU Aero Engines delivered an upbeat message for the short and long term, with better-than-expected growth across all businesses. At the bottom line, the EBIT margin is forecast to remain stable at around 15% (in line with our estimates), benefiting from the strong spare parts business. Even though the valuation appears to be full and the stock seems now to be expensive (high EV/EBITDA multiples), we confirm our positive view on the stock.