(News Bulletin 247) – Oddo BHF confirms its ‘outperformance’ recommendation and its price target of 22 euros on Ryanair, deeming the stock’s correction ‘unjustified’ after its publication the day before, and considering that it ‘offers a good entry point’.
“The acceleration of market share gains and the good performance of capacities plead in favor of a good orientation of pricing over the summer season which will offset, in our opinion, inflation on unit costs excluding fuel”, thinks the analyst.
In addition, Oddo BHF believes that ‘Ryanair’s more competitive cost structure will make it easier to adapt to the expected slowdown in the winter trend’, and that its valuation is attractive given the fundamentals and average EPS growth.
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