UBS reiterates its buy recommendation on the stock and lowers its target price to E200 (from E205), which represents a potential upside of 13% compared with the current price.

' Is the extent of pressure on margins underestimated? ' asks UBS.

' We believe that EBIT expectations for the second half of the year are still too high, despite recent downward revisions due to weak deliveries', says the research firm.

Last Friday, Dassault Aviation announced that it had delivered 13 Rafale jets and 26 Falcon jets last year, below its targets.

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