(News Bulletin 247) – UBS renewed its buy recommendation on Air France-KLM on Tuesday, which it is pairing with a new price target of 2.2 euros, against two euros so far, representing an upside potential of 29%.
‘Despite a gain of almost 40% in the stock price since the beginning of the year, we continue to recommend the action for purchase’, explains the broker in a research note.
‘We believe that the continued improvement in results driven by the recovery in passenger traffic (driven by the recovery in business travel, the reopening of Asia and continued strong demand in leisure ) and price strength (driven by capacity discipline) should support the stock’, continues UBS.
‘In addition, the company anticipates stability in its unit costs excluding fuel stable, while we see them ebb, which suggests that the risk of good surprises is on the rise,’ he concludes.
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