(News Bulletin 247) – The Air France-KLM share posted the largest rise in the SBF 120 index on the Paris Stock Exchange on Friday, supported by an increase in recommendation from Deutsche Bank, which welcomes the group’s debt reduction process.
As part of a study devoted to the aviation sector in Europe, the intermediary moved to ‘buy’ against ‘hold’ on the title, with a price target raised to 2.30 euros against 1.75 euros previously.
Its target shows a potential appreciation of around 45% compared to the closing price the day before, he specifies in his note.
If the analyst recognizes that the market could still express some concerns about the level of indebtedness of the carrier, he believes that the fears of new dilutive fundraisings should start to dissipate, thus supporting the share price.
Deutsche Bank also raised its recommendation on Lufthansa and IAG shares on Friday, also moving from ‘hold’ to ‘buy’.
Around 11:30 a.m., the Air France-KLM stock rose 3.2%, while the SBF 120 index gained 0.4% at the same time, bringing its growth since the start of the year to more than 35%.
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