(News Bulletin 247) – Stifel raises the Air France share to Buy with a target price of 2.20E.
A decision taken to reflect Stifel’s improved view of the sector ‘thanks to better structural supply and demand prospects and the resulting improvement in earnings estimates’, says the analyst. .
‘ At the same time, pressure on Air France-KLM’s balance sheet has eased with new legislation in France, and the stock is trading at a low valuation (~30% discount to to peers based on the EV/EBITDA of 2024) ‘, further notes Stifel.
The outlook and trends are positive for the rest of the year notes the broker who notes that if no EBIT forecast is provided at this stage, Stifel expects ‘2.0 billion euros, which is significantly higher to the consensus of 1.5 billion euros’.
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