Ryanair: Liberum raises target price
(CercleFinance.com) - Liberum maintains its Buy rating on Ryanair shares, increasing its target price for them from E19 to E20.
50, reflecting higher earnings estimates and lower capital expenditure, the analyst said.
"Ryanair appears to be at the more cautious end of the industry spectrum on the short-term outlook for this summer," Liberum believes.
"However, its suggestion that industry capacity growth could remain constrained through to 2030 are very bullish on the long term," the broker notes, noting that Ryanair continues to trade at its usual premium to its European peers.
This premium is more than justified by the group's market leadership, track record of profitable growth, superior unit costs and strong balance sheet, Liberum concludes.
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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.
50, reflecting higher earnings estimates and lower capital expenditure, the analyst said.
"Ryanair appears to be at the more cautious end of the industry spectrum on the short-term outlook for this summer," Liberum believes.
"However, its suggestion that industry capacity growth could remain constrained through to 2030 are very bullish on the long term," the broker notes, noting that Ryanair continues to trade at its usual premium to its European peers.
This premium is more than justified by the group's market leadership, track record of profitable growth, superior unit costs and strong balance sheet, Liberum concludes.
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.