IAG: Barclays raises target price

(CercleFinance.com) - Barclays has confirmed its 'Overweight' recommendation on IAG (International Airlines Group) shares, with its target price raised from £2.
90 to £3.20, following last Friday's quarterly results for the Anglo-Spanish airline.

Earnings 13% above consensus and share buybacks of E350m reflect IAG's favourable market positioning, with exposure to the North and South Atlantic, the UK and Spain, the broker says.

Barclays summarises that 'British Airways' restructuring is working, US exposure looks useful at present, and cash flow yields should increase.


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