(News Bulletin 247) – While acknowledging that the stock displays a demanding valuation, Oddo BHF raises its recommendation on IAG (International Airlines Group) from ‘underperformance’ to ‘neutral’ with a price target raised to two euros, against 1.85 euros previously.
‘The good performance in the first quarter reassures us as to the company’s ability to control its unit costs excluding fuel in an inflationary environment’, explains the analyst.
The design office also says it is “more optimistic today in the generation profile of FCF which makes it possible to gradually reduce the level of indebtedness” which it still considers high compared to peers.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
