(News Bulletin 247) – Air France-KLM shares traded sharply higher Tuesday morning on the Paris Stock Exchange, driven by a note from Barclays, which highlights in particular the improvement in the company’s balance sheet.
Around 10:45 a.m., the title advanced by 2.9%, signing one of the largest increases in the SBF 120, which lost around 0.4%.
In a study devoted to the air sector, Barclays estimates that Air France-KLM should take advantage of the strength of demand, but also of its internal restructuring.
From a sector perspective, the analyst believes that the recovery in demand combined with the reopening of Asian economies and corporate travel should more than outweigh the slowing economy.
In this context, Barclays initiates the coverage of the title to ‘overweight’ with a target price of 2.3 euros. The intermediary also begins monitoring Lufthansa and Ryanair with a favorable recommendation.
In a note released in the morning, the UBS teams maintain their advice to buy Air France-KLM, with a target of 2.2 euros, considering that the stock market price still has a upside potential after their recent rebound.
The stock has posted a gain of more than 37% since the start of the year.
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