The world's third-largest aircraft maker after Airbus (AIR.PA) and Boeing (BA.N), Embraer bagged 13 fresh orders for commercial jets at the Paris Airshow, falling short of market estimates and previous years' levels.
The 13 new orders compared with 74 secured at Le Bourget in 2019 and 28 in Farnborough last year.
They also lagged some upbeat market forecasts, including expectations by JPMorgan analysts for at least 30 orders.
In Paris, investors were especially disappointed by the lack of orders from the booming Indian airline market, which handled an all-time-high 500-plane transaction to Airbus and new orders to Boeing.
"We believe that most of the pre-event excitement has already been adjusted in share prices," said XP Investimentos, while also rates Embraer a "buy."
Persons:
Le Bourget, Gabriel Araujo, Conor Humphries, Leslie Adler
Organizations:
SAO PAULO, Embraer, EMBR3, Airbus, Boeing, Paris, Le, JPMorgan, American Airlines, Royal, Salam Air, Thomson
Locations:
China, Farnborough, U.S, Paris, Royal Jordanian, New York