Citi Lifts MTU Aero Engines to Buy, Flags Cash-conversion Turning Point
Citi on Thursday upgraded MTU Aero Engines from Sell to Buy and increased its price target to €445, citing an expected inflection in cash conversion driven by a higher mix of long-term service agreements and the tapering of powder-metal related compensation. The bank projects cash conversion rising from 55% in 2026 to 80-90% by 2030 and forecasts r…