(News Bulletin 247) – Liberum reiterates its ‘buy’ recommendation on IAG (International Airlines Group) and raises its price target from 220 to 240 pence, having updated its estimates for the Anglo-Spanish air carrier, after its recent results annual.
The brokerage made ‘minimal in net terms’ changes, with its forecast remaining at the high end of management’s earnings forecast for the current year.
“This reflects our optimism that economic activity, and therefore demand for air travel, will remain above the capacity of the air sector compared to pre-pandemic levels,” he continues.
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