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Lufthansa: Société Générale upgrades stock

( - On Monday Société Générale analysts upgraded their rating on Lufthansa shares from "hold" to "buy", having increased their target price for them from 6.
7 euros to 7.9 euros.

In a report, the French bank says that the recovery in passenger traffic from which the German airline has benefited is set to last.

Analysts say that the carrier's performance should benefit from yield appreciation, capacity discipline, high load factors and the easing of oil prices once the inflation shock has passed.

The bank says its upgrade is also based on valuation issues; in this case with the stock trading at an EV/Ebitda ratio of just 4.4x.

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