Fraport: shares fall 2% after broker downgrade.

(CercleFinance.com) - Shares in Fraport fell over 2% on Thursday morning after Credit Suisse downgraded the stock from "neutral" to "underperform," citing earnings and de-rating risks after the share price has risen by around 50% this year.


"Fraport seems priced for perfection and de-rating catalysts are now evident," the broker warns in a research note, while increasing its target price from 65 euros to 71 euros.

At midday, the Fraport share was trading 2.2% down at 81.7 euros, while Germany's main share index was down just 0.7% in comparison.

In a press release, the German airport operator this morning posted a 4.4% rise in July passenger traffic at its main hub in Frankfurt, Germany's largest airport.

Monthly traffic hence reached a new high, exceeding the previous August 2015 record - with passenger traffic rising for the ninth month in a row.

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