Ryanair: shares fall after broker downgrade
(CercleFinance.com) - Shares in Irish budget airline Ryanair are slipping over 1% today after analysts at Berenberg downgraded the stock from "hold" to "sell".
"We downgrade Ryanair (...) as it faces sustained competitive pressure to pricing, while its cost progress remains highly uncertain" the analysts write in a research note on transport and logistics.
The broker has a new target price of 9.75 euros, compared to 12.60 euros previously.
Ryanair shares are currently the biggest loser in the STOXX Europe 600 Travel & Leisure, down 1.2% at 10.5 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.
"We downgrade Ryanair (...) as it faces sustained competitive pressure to pricing, while its cost progress remains highly uncertain" the analysts write in a research note on transport and logistics.
The broker has a new target price of 9.75 euros, compared to 12.60 euros previously.
Ryanair shares are currently the biggest loser in the STOXX Europe 600 Travel & Leisure, down 1.2% at 10.5 euros.
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.