IAG: Stifel raises target price
(CercleFinance.com) - Stifel has confirmed its "buy" recommendation on IAG (International Airlines Group) share, having increased its target price for them from 2.
20 euros to 3.00 euros, after it raised its longer-term estimates for the parent company of British Airways and Iberia.
The broker expects the company to announce an operating loss of 977 million euros for Q1 2021, which actually represents a slight improvement sequentially, with analysts reducing their FY 2021 EBIT estimate to -1.4 billion euros (vs. -589 million euros previously).
"That said we see a realistic chance that the UK will resume transatlantic flying sooner than the EU," Stifel says. "Recent events support IAG's COVID-19 winner thesis (consolidation, sustainable BA cost cuts)".
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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.
20 euros to 3.00 euros, after it raised its longer-term estimates for the parent company of British Airways and Iberia.
The broker expects the company to announce an operating loss of 977 million euros for Q1 2021, which actually represents a slight improvement sequentially, with analysts reducing their FY 2021 EBIT estimate to -1.4 billion euros (vs. -589 million euros previously).
"That said we see a realistic chance that the UK will resume transatlantic flying sooner than the EU," Stifel says. "Recent events support IAG's COVID-19 winner thesis (consolidation, sustainable BA cost cuts)".
Copyright (c) 2021 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.