Fraport: Oddo remains cautious after estimates
(CercleFinance.com) - Fraport has announced strong traffic growth in Frankfurt in 2018.
Traffic rose by 7.8% in December, after +4.7% in November and +5.2% in October. Over the whole of 2018, growth reached +7.8% (after 6.1% in 2017). Following this announcement, however Oddo has confirmed its Neutral rating on the stock, along with is target price of 75 euros.
For 2019, the group expects a slowdown in traffic growth in Frankfurt. It says that there is no official guidance yet, although the group is talking about traffic growth reaching 2%-3%.
The broker says that it is not adjusting its estimates following this publication, and still thinks that investors should be cautious at the start of the year - particularly as visibility on changes in tariffs in Frankfurt is very low.
Copyright (c) 2019 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.
Traffic rose by 7.8% in December, after +4.7% in November and +5.2% in October. Over the whole of 2018, growth reached +7.8% (after 6.1% in 2017). Following this announcement, however Oddo has confirmed its Neutral rating on the stock, along with is target price of 75 euros.
For 2019, the group expects a slowdown in traffic growth in Frankfurt. It says that there is no official guidance yet, although the group is talking about traffic growth reaching 2%-3%.
The broker says that it is not adjusting its estimates following this publication, and still thinks that investors should be cautious at the start of the year - particularly as visibility on changes in tariffs in Frankfurt is very low.
Copyright (c) 2019 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.