(News Bulletin 247) – Liberum confirms its ‘buy’ recommendation on Ryanair with an unchanged target price of 19 euros, following the presentation by the Irish low-cost airline of its annual results.
In addition to ‘a clear return to profitability with annual results at the top of management’s target range and 2% above the consensus’, he points out that the net cash on the balance sheet was a surprise, with a year of ahead of the target.
“The forecast for the year (modest earnings growth) is more cautious than the current consensus, although demand for summer 2023 remains robust with higher prices than last year”, however notes the broker.
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.
