Lufthansa: Oddo BHF cuts target price
(CercleFinance.com) - Oddo BHF confirms its "outperform" rating on Lufthansa shares, reducing its target price for them from E11.
3 to E10.5, in particular due to increasing fuel prices.
Analysts believe that exposure to German macro conditions is also an explanatory factor; however, the group is much more international than in the past. They are convinced that the control of unit costs excluding fuel (CASK), which will be more visible at Lufthansa than at its competitors from the end of this financial year, will bring renewed confidence.
On its forthcoming quarterly results on 2 November, the broker expects adjusted EBIT of E1,316m (+16.3% vs. Q3 2022), in line with the company's expectations, with sales of E10.4bn.
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.
3 to E10.5, in particular due to increasing fuel prices.
Analysts believe that exposure to German macro conditions is also an explanatory factor; however, the group is much more international than in the past. They are convinced that the control of unit costs excluding fuel (CASK), which will be more visible at Lufthansa than at its competitors from the end of this financial year, will bring renewed confidence.
On its forthcoming quarterly results on 2 November, the broker expects adjusted EBIT of E1,316m (+16.3% vs. Q3 2022), in line with the company's expectations, with sales of E10.4bn.
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.