(News Bulletin 247) – Stifel confirms its buy rating on Ryanair shares, with an unchanged price target of 22 euros, after the company announced today a net profit of 663 ME in the 1st quarter of its financial year (April-May-June).
Ryanair anticipates ‘strong’ bookings for the second quarter (summer peak), but has noted some returns are eroding of late, Stifel reports.
In a context of rising fuel costs, Ryanair is sticking
to its cautious forecasts and targets a ‘moderate’ increase in net profit for this year (the consensus is at 1.76 MdE, Stifel expects 1.98 MdE).
“We believe that Ryanair offers a historic structure for growth in the low-cost aviation channel despite limited market capacity, as evidenced by market share gains,” the analyst concludes in substance.
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