Fraport: Credit Suisse upgrades sell rating

(CercleFinance.com) - Credit Suisse has changed its stance towards the German airport operator Fraport, with analysts upgrading their former sell rating ("underperform") on the share to neutral.


Alongside this upgrade, they have raised their target price for the share from 78 euros to 86 euros.

Credit Suisse notes that the Fraport share has lost 12% of its value since the beginning of the year, hence underperforming its sector. However, market expectations are now picking up once again, which should put an end to the shares fall, analysts say.

In their report, they believe that air traffic will rise by more than the market expects in 2018, with a target of 69.3 million passengers this year (+7.5%), compared with management's forecasts of 67 million to 68.5 million.



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