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Lufthansa: Commerzbank raises target price.

(CercleFinance.com) - Commerzbank has reiterated its "buy" recommendation on Lufthansa and has raised its target price from 21 euros to 32 euros, saying that "Market fundamentals are changing quickly in Lufthansa's favour".

The broker points out that apart from a solid yield over the summer; consolidation is accelerating in Europe, which it deems is lifting the structural weight on the group's profitability.

The broker adds that Air Berlin's assets will reinforce Lufthansa's dominance of its domestic market, which has raised its 2018 adjusted operating profit estimate by 19%, 10% above the consensus.

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