Air France-KLM: Liberum maintains sell rating after results

(CercleFinance.com) - Liberum reinstates its "sell" recommendation on Air France-KLM shares, along with its target price of 3 euros, even though it acknowledged that "The first quarterly operating profit since the start of the pandemic was a positive surprise".


"While some optimism is warranted, the outlook remains uncertain (no 2022 capacity guidance) and the need to recapitalise the balance sheet implies significant equity dilution risk," the broker warned in its summary.

However, the share isn't scaring investors off by any means, ahead of Hallowe'en this weekend - it is up over 4% 90 minutes from close in Paris.


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