"We have made an in-depth review of CTT’s long-term market potential as well as the drivers behind earnings growth in 2020, where we conclude that the sales decline in guidance and our estimates for 2020 is only a hiccup in the company’s long-term growth trend. Despite the expected sales loss in 2020e, we forecast 7% adj. EBIT growth, as higher-margin OEM sales and a higher share of aftermarket sales should offset the loss of B787 dehumidifiers after Boeing’s decision to remove them as standard equipment. In the long-term, we expect high aircraft production from Airbus and Boeing to drive 15-19% ‘19e-‘38e CAGR in accumulated long-haul aircraft deliveries."
Länk till uppdragsanalys nedan.