Air France-KLM: Oddo BHF still on hold
(CercleFinance.com) - This morning, an analyst at Oddo BHF confirmed his "neutral" recommendation on the Air France-KLM stock, with an interview with management having enabled the broker to take stock of its positioning on the maintenance market.
It says that Air France-KLM believes that the return of flights to the 2019 level could be reached at best by mid-2022. Three factors explain the scale and duration of this slump: a decline in flight hours (current activity rate of between 5% and 30%), the postponement of maintenance operations (“green time” for engines) and the faster transition to new aircraft.
Oddo BHF therefore confirms its target price of 3.90 euros, slightly above the share's current price.
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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.
It says that Air France-KLM believes that the return of flights to the 2019 level could be reached at best by mid-2022. Three factors explain the scale and duration of this slump: a decline in flight hours (current activity rate of between 5% and 30%), the postponement of maintenance operations (“green time” for engines) and the faster transition to new aircraft.
Oddo BHF therefore confirms its target price of 3.90 euros, slightly above the share's current price.
Copyright (c) 2020 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.