Ryanair: shares drop after Credit Suisse downgrade
(CercleFinance.com) - Shares in Ryanair, Europe's largest budget airline, were down over 1% on Tuesday morning after Credit Suisse downgraded the stock from "neutral" to "underperform".
In a note dedicated to European airlines, the brokerage firm said Ryanair is the most "vulnerable" stock of the sector due to its stretched valuation, which is currently trading at 13x 2020e earnings.
Credit Suisse also cites concerns over the company's margins.
At 11 am, Ryanair was trading 1.3% lower at 10.2 euros, while the STOXX Europe 600 Travel & Leisure index was down 0.3%.
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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.
In a note dedicated to European airlines, the brokerage firm said Ryanair is the most "vulnerable" stock of the sector due to its stretched valuation, which is currently trading at 13x 2020e earnings.
Credit Suisse also cites concerns over the company's margins.
At 11 am, Ryanair was trading 1.3% lower at 10.2 euros, while the STOXX Europe 600 Travel & Leisure index was down 0.3%.
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.