Ryanair: Liberum still a buyer after FY results
(CercleFinance.com) - Liberum reiterates its 'buy' rating on Ryanair shares with an unchanged target price of E19, following the Irish low-cost airline's presentation of its annual results.
In addition to "A clear return to profitability with FY results at the top end of management's guidance range, 2% ahead of consensus", it points to net cash on the balance sheet as a surprise, one year ahead of target.
"FY guidance (modest profit growth) is more cautious than current consensus, although summer 2023 demand remains robust with fares tracking higher than last year," the broker notes, however.
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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 addition to "A clear return to profitability with FY results at the top end of management's guidance range, 2% ahead of consensus", it points to net cash on the balance sheet as a surprise, one year ahead of target.
"FY guidance (modest profit growth) is more cautious than current consensus, although summer 2023 demand remains robust with fares tracking higher than last year," the broker notes, however.
Copyright (c) 2023 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.