IAG: Barclays raises its target price

(CercleFinance.com) - Barclays has reaffirmed its 'Overweight' recommendation on IAG (International Airlines Group), 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 350 million euros reflect IAG's favorable market positioning, with exposure to the North and South Atlantic, the UK and Spain", explains the broker.

Barclays adds in its note summary that 'British Airways' restructuring is working, US exposure looks useful at present, and cash flow yields should increase'.

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