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Air France-KLM: Oddo BHF raises target price

( - Broker Oddo BHF has reiterated its "buy" recommendation on the Air France-KLM stock, having raised its corresponding target price from 11.
7 euros to 12.3 euros, with the broker expecting a fourth quarter 2018 that finally is fairly strong, despite the disruptions caused by the yellow vest protests in France.

The broker believes that at the start of the year, the share will be boosted by a string of news, with the group signing an agreement with Air France pilots and the presentation of Ben Smith's strategic aims.

Beyond this upbeat newsflow, the first meetings between Ben Smith and investors could demonstrate that Air France-KLM benefits from its own levers, which will finally be activated, says the analyst who monitors the stock, who also points out attractive multiples for 2019.

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