Air France-KLM: Oddo BHF raises target price
(CercleFinance.com) - An analyst at Oddo BHF this morning says that he is raising his target price for the Air France-KLM share, seduced by a newsflow that he believes will be buoyant over the coming months, a "solid" third quarter, boosted by the unit receipts and cost control, in addition to the first steps taken by new CEO Benjamin Smith, which he believes are "encouraging".
The broker believes that the newsflow will remain bullish for the stock, with the potential signature of an agreement with Air France pilots which would open the door to extensive strategic changes (scope, growth, flexibility) and taking into account his experience in the airline sector, Oddo believes that the presentation of Ben Smith's strategic plan could be advanced to early next year. The first steps of the new CEO reinforce the likelihood of a best-case scenario with a significant growth potential, the broker says.
Oddo BHF, which maintains its buy rating on the stock, has therefore raised its target price from 11.10 euros to 11.70 euros.
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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.
The broker believes that the newsflow will remain bullish for the stock, with the potential signature of an agreement with Air France pilots which would open the door to extensive strategic changes (scope, growth, flexibility) and taking into account his experience in the airline sector, Oddo believes that the presentation of Ben Smith's strategic plan could be advanced to early next year. The first steps of the new CEO reinforce the likelihood of a best-case scenario with a significant growth potential, the broker says.
Oddo BHF, which maintains its buy rating on the stock, has therefore raised its target price from 11.10 euros to 11.70 euros.
Copyright (c) 2018 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.