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Lufthansa: UBS still a buyer after profit warning
(CercleFinance.com) - UBS confirms its Buy recommendation on the stock, with an unchanged target of E12.
3, representing 112% upside potential.
The group announced a second profit warning in two months, but the market is largely satisfied given the share price reaction, UBS says.
Lufthansa lowered its operating profit forecast for FY 2024 on Friday, in particular citing a recent drop in passenger traffic in Asia.
The German airline says it now expects adjusted Ebit of E1.4bn to E1.8bn this year, compared with a previous target of around E2.2bn.
FCF is now expected to be fall far short of the E1bn mark in 2024, compared with a previous forecast of 'at least' one billion.
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.
3, representing 112% upside potential.
The group announced a second profit warning in two months, but the market is largely satisfied given the share price reaction, UBS says.
Lufthansa lowered its operating profit forecast for FY 2024 on Friday, in particular citing a recent drop in passenger traffic in Asia.
The German airline says it now expects adjusted Ebit of E1.4bn to E1.8bn this year, compared with a previous target of around E2.2bn.
FCF is now expected to be fall far short of the E1bn mark in 2024, compared with a previous forecast of 'at least' one billion.
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.