FACC: Recovery gains traction, Berenberg ups

FACC AG

07/05/2021 09:56

** Berenberg ups FACC  FACC.VI  to "hold" from "sell",
saying cost savings have made the Austrian plane parts maker
well-positioned to benefit from recovery in the aviation sector
    ** FACC may also gain from its exposure to Airbus A320neo,
which should lead market recovery thanks to its strong order
backlog and focus on short-haul domestic routes, Berenberg says
    ** The expected multi-year ramp-up in the model's production
from Q3 2021 should continue through 2025, the broker says
    ** While FACC's leverage limits its ability to gain market
share from other struggling suppliers, its share price already
reflects this with a 5% discount to the sector, Berenberg adds
    ** Out of seven analysts that cover FACC AG, one rates it
"buy", four "hold" and two "sell" or "strong sell"



 ((Dennis.duldhardt@thomsonreuters.com))