Air France-KLM: Oddo BHF upgrades stock

(CercleFinance.com) - Oddo BHF has upgraded the Air France-KLM and Lufthansa shares from 'underperform' to 'neutral', with target prices raised from E7.
5 to E10 and from E5.3 to E7.5 respectively, in a report on the European airlines.

Thanks to better-than-expected unit revenues, notable capacity discipline and lower fuel costs, we anticipate a rebound in margins, particularly for the majors, the analyst says.

IAG (parent company of British Airways and Iberia) is still Oddo's best pick in the sector, while downgrades the low-cost carriers Ryanair to 'underperform', and Wizz Air to 'neutral'.


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