Fraport: Commerzbank keeps a 'hold' rating.

(CercleFinance.com) - Commerzbank maintains its "hold" rating on Fraport and sets a new target price of 85 euros, from 75 euros, expecting the German airport operator to deliver on guidance.


In a research report entitled "nothing to really worry about, but nothing thrilling ahead either," the investment bank said Q2 results looked in line at first, and a little softer at second glance.

However, Commerzbank notices that the company's underlying outlook has been raised slightly, with it indirectly pointing to the upper end of its EBITDA guidance range.

The German bank then explains that higher peer multiples and a more positive valuation for external activities have prompted it to increase its target price.


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