Ryanair: Liberum upgrades stock

(CercleFinance.com) - Liberum has upgraded its rating on Ryanair shares to 'buy' (from 'hold'), having increased its target price for them to 16 euros (from 13 euros), after strong demand over the holiday period led to a better-than-expected Q3 (December quarter).


"Management now expects March 2023E net profit to be between E1.325bn and E1.425bn, 25% better than the previous guidance range," the broker says, raising its own guidance accordingly.

"The higher base from 2023E and favourable fuel and FX movements see our 2024E estimates rise to a level that makes the valuation no longer appear stretched," it adds.


Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.