IAG: Liberum still a buyer after Q3 results

(CercleFinance.com) - Liberum reinstates its "buy" rating on IAG (International Airlines Group) shares, along with a target price of 215p, following the group's announcement of a "Q3 operating loss was smaller than expected and much reduced versus last year".


"The relative underperformance compared with profitable peers reflects IAG's greater exposure to markets with tight restrictions and its smaller cargo business," the broker said in its research note.

Liberum still considers the Anglo-Spanish airline, which operates British Airways and Iberia airlines, amongst others, as "as a structural winner, with a clear recovery path, which is not reflected in the valuation".

IAG shares are currently down about 1%.



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