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Lufthansa: Stifel downgrades its recommendation
(CercleFinance.com) - Stifel downgrades its recommendation on Lufthansa from 'hold' to 'sell', with a target price reduced from E7 to E4.
5, stating "We see severe pressure on consensus estimates for this and next year (~25%)".
The broker points out that the profit warning issued by the German airline last Friday was driven by profound weakness in H2, rather than by effects limited to Q2 alone.
Judging Lufthansa's problems to be complex, Stifel points to "too much inefficient capacity growth despite yield weakness, combined with perceived product shortcomings and uncompetitive cost structures".
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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
5, stating "We see severe pressure on consensus estimates for this and next year (~25%)".
The broker points out that the profit warning issued by the German airline last Friday was driven by profound weakness in H2, rather than by effects limited to Q2 alone.
Judging Lufthansa's problems to be complex, Stifel points to "too much inefficient capacity growth despite yield weakness, combined with perceived product shortcomings and uncompetitive cost structures".
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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.