Ryanair: Credit Suisse reiterates 'outperform' rating

(CercleFinance.com) - Credit Suisse has reiterated its "outperform" rating on Ryanair, saying that the Irish low-cost carrier could emerge as the "best positioned" European airline in the aftermath of the Covid-19 crisis.


In a note on the sector, the broker said it sees Ryanair as "the most resilient and likely to gain most from sector consolidation."

Credit Suisse - which worries about the potential establishment of liquidity buffers that would drive up the cost of equity for the sector - said this scenario would reinforce the investment case around Ryanair. This is particularly because the Irish group is the best positioned to benefit from competitors' challenges.

The broker, however, has cut its target price on the share from 14.16 euros to 11.90 euros.

The stock is currently down 1.5%.

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