Lufthansa: UBS upgrades stock
(CercleFinance.com) - UBS on Wednesday upgraded Lufthansa shares from "neutral" to "buy", increasing its target price for them from 9.
3 euros to 13.25 euros.
The broker believes that the airline's strong end to 2022, as well as its good start to 2023, point to an upcoming improvement in results.
UBS said it expects the company to reach maximum profitability in 2025 as air traffic returns to its 2019 levels.
It also expects its balance sheet to improve as the company reduces its debt, a process that could enable it to quickly regain investment grade status.
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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.
3 euros to 13.25 euros.
The broker believes that the airline's strong end to 2022, as well as its good start to 2023, point to an upcoming improvement in results.
UBS said it expects the company to reach maximum profitability in 2025 as air traffic returns to its 2019 levels.
It also expects its balance sheet to improve as the company reduces its debt, a process that could enable it to quickly regain investment grade status.
Copyright (c) 2023 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.