Lufthansa: Oddo raises target price
(CercleFinance.com) - Oddo has raised its target price for the Lufthansa stock from 30.
5 euros to 33 euros and has renewed its "buy" rating on Lufthansa in a report released on Tuesday.
The stock's momentum remains upbeat, although there are delays in its re-rating, said the analyst who monitors the stock, who, following the announcement of a 25.6% leap in traffic in November. He welcomed the strength of domestic traffic (obviously driven by the bankruptcy of Air Berlin), the continuation of a positive trend in the Asia/Pacific zone, ongoing growth of unit revenue excluding FX factors and dynamic freight traffic, which bodes well for an excellent winter season.
In the wake of this announcement, Oddo has slightly raised its estimate for 2017 unit revenue for excluding FX factors to 2.3%, including 4% in Q4, and its cargo yield to 13.5%.
In particular, the broker has raised its 2017-19 EPS estimates by 2%, 6.5% and 6.8% respectively.
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