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Lufthansa: BarCap downgrades stock

(CercleFinance.com) - Barclays Capital (BarCap) has downgraded its rating on Lufthansa from "Equal weight" to "underweight," despite raising our target price for the share by 5% to 23 euros, wondering whether the German company's improved results are sustainable.

The broker believes that management's aims to fashion the sector and boost sales, are leading to capital allocation decisions that are not always financially robust.

BarCap also mentions better opportunities elsewhere in the airline industry, with IAG (International Airlines Group, the parent company of British Airways and Iberia), currently its best pick.

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