IAG: UBS raises target price

(CercleFinance.com) - UBS underlines IAG's continued strong operating performance.


Operating profit for the holding company for the airlines Aer Lingus, British Airways, Iberia, Level and Vueling rose by 15.4% to E2.01bn, exceeding the consensus of E1.8 billion.

The broker maintains its neutral rating on the stock, although raises its target price for it to 280 pence (from 210 pence) - a new TP that implies 17% upside potential for the Anglo-Spanish airline's shares.

After 9 solid months, UBS analysts increase their 24e/25e EPS by 11% and 29% respectively.

The group, whose revenues rose by 7.9% to E9.33bn in Q3, added that it expected 'solid financial performance' by the end of the year.


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