Air France-KLM: price target lowered by Oddo BHF

(CercleFinance.com) - Oddo BHF reiterates its 'underperform' rating on Air France-KLM and lowers its target price from E9.
5 to E8.5, to reflect its new estimates and the broker's updated parameters.

Following a warning issued by the Franco-Dutch airline earlier this week, the analyst models an adjusted EBIT of E482m (-34.2%) on Q2 sales of E8.1bn.

In its view, the recovery of CASK is a prerequisite for investors to return to the share, Oddo BHF warns, for which Air France-KLM is still trading on unattractive multiples compared with its major peers Lufthansa and IAG.


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.