Air France-KLM: Oddo BHF a buyer, adjusts target price
(CercleFinance.com) - Oddo BHF confirms its "buy" recommendation on the Air France-KLM share, while trimming its target price from 12.
7 euros to 11.8 euros, after the group's Q1 results are not, in its opinion, representative of the current fiscal year.
The broker says that that it still thinks that Ben Smith can move things and therefore reduce some of Air France's competitive disadvantage, which would enable the airline to approach its best-case scenario.
A potential agreement with the SNPL will be key to demonstrate that both parties have the same objective in sight. On a 2019 basis, the share is trading on attractive multiples, with an EV/EBITDA of 2.7x and a P/E of 6.5x, the analyst adds.
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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.
7 euros to 11.8 euros, after the group's Q1 results are not, in its opinion, representative of the current fiscal year.
The broker says that that it still thinks that Ben Smith can move things and therefore reduce some of Air France's competitive disadvantage, which would enable the airline to approach its best-case scenario.
A potential agreement with the SNPL will be key to demonstrate that both parties have the same objective in sight. On a 2019 basis, the share is trading on attractive multiples, with an EV/EBITDA of 2.7x and a P/E of 6.5x, the analyst adds.
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.