Lufthansa: UBS still a buyer after profit warning

(CercleFinance.com) - UBS confirms its Buy recommendation on the stock, with an unchanged target of E12.
3, representing 112% upside potential.

The group announced a second profit warning in two months, but the market is largely satisfied given the share price reaction, UBS says.

Lufthansa lowered its operating profit forecast for FY 2024 on Friday, in particular citing a recent drop in passenger traffic in Asia.

The German airline says it now expects adjusted Ebit of E1.4bn to E1.8bn this year, compared with a previous target of around E2.2bn.

FCF is now expected to be fall far short of the E1bn mark in 2024, compared with a previous forecast of 'at least' one billion.


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