Ryanair: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF confirms its "outperform" rating on Ryanair share, raising its target price for them from E20 to E21, judging that its weaker performance YTD (+29% compared to +54% for easyJet and +56% compared to WizzAir) seems unjustified.
The acceleration of market share gains and sound capacity performance bode well for a good pricing orientation, which in the broker's view will compensate for inflation in unit costs excluding fuel, the analyst believes.
The broker also believes that the Irish low-cost airline share is trading at an attractive valuation, given its fundamentals and expected average EPS growth of 22% over 2023-2026.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The acceleration of market share gains and sound capacity performance bode well for a good pricing orientation, which in the broker's view will compensate for inflation in unit costs excluding fuel, the analyst believes.
The broker also believes that the Irish low-cost airline share is trading at an attractive valuation, given its fundamentals and expected average EPS growth of 22% over 2023-2026.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.