(News Bulletin 247) – Deutsche Bank raised its advice on Friday on the Air France-KLM share to ‘buy’ against ‘hold’, with a price target raised to 2.30 euros against 1.75 euros previously.
As part of a study devoted to the airline sector in Europe, the intermediary particularly welcomes the debt reduction process initiated by the airline.
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.
His new target shows a potential appreciation of around 45% compared to the closing price the day before, he specifies in his note.
Deutsche Bank also raised its recommendation on Lufthansa and IAG shares on Friday, also moving from ‘hold’ to ‘buy’.
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