Fraport: Barclays reduces target price
(CercleFinance.com) - Barclays reinstates its "underweight" rating on Fraport shares, with a lower target price of 52 euros (from 54 euros), after it reduced its 2022-24 EBITDA estimates by 3-5% for the German airport operator.
"Despite regulatory inflation protection and cost restructuring on track, we remain UW due to the high leverage and uncertainty around dividend reinstatements, which we don't expect before FY25,"
the broker says.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"Despite regulatory inflation protection and cost restructuring on track, we remain UW due to the high leverage and uncertainty around dividend reinstatements, which we don't expect before FY25,"
the broker says.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.