Ryanair: Deutsche Bank says, 'Time for a pause'

(CercleFinance.com) - Deutsche Bank has downgraded its buy rating on the share of the Irish low-cost airline Ryanair, adopting a more cautious hold rating.

The broker has however, nudged up its target price from 12.5 euros to 13.5 euros - note that the share price has risen nearly 50% in three months.

Analysts have updated their estimates after the airline's interim results that were "better-than-expected". In particular, the broker has raised its forecast for pre-tax profit for 2019/2020 from 800 million to 850 million euros, which explains why it has raised its target price for the share.

That said, "Deutsche" adds that the Ryanair share has also rebounded by about 60% from its lows reached in August, which means that it has outperformed peers twice over.


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