Lufthansa: downgraded by broker

(CercleFinance.com) - Lufthansa lost 2% in Frankfurt after Stifel downgraded its recommendation from 'hold' to 'sell', and reduced its target price from seven to 4.
5 euros, expecting 'severe pressure on consensus estimates'.

Stifel points out that the earnings warning issued by the German airline last Friday was prompted by profound weakness in the second half of the year, and not by effects limited to the second quarter alone.

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