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Air France-KLM: Barclays downgrades stock
(CercleFinance.com) - Barclays says that it has downgraded Air France-KLM shares from 'Overweight' to 'Equal Weight'.
Barclays analysts say they are concerned about the political context in France, which they believe could rekindle major industrial action.
The broker also mentions recent comments from Lufthansa, which said it had noted a bout of weakness in the economy category on transatlantic routes, as well as KLM, which pointed to certain difficulties in its long-haul network.
Barclays, which has slashed its target price from E15 to E9.5 (cp: E8.2, -4.2%), nevertheless says it appreciates the group's strategic positioning, as well as the quality of its management team.
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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.
Barclays analysts say they are concerned about the political context in France, which they believe could rekindle major industrial action.
The broker also mentions recent comments from Lufthansa, which said it had noted a bout of weakness in the economy category on transatlantic routes, as well as KLM, which pointed to certain difficulties in its long-haul network.
Barclays, which has slashed its target price from E15 to E9.5 (cp: E8.2, -4.2%), nevertheless says it appreciates the group's strategic positioning, as well as the quality of its management team.
Copyright (c) 2024 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.