Air France-KLM: shares get lift from broker upgrade.
(CercleFinance.com) - Air France-KLM shares are currently up 3% at a new five-year high on Tuesday, after RBC Capital Markets upgraded its rating on the the airline group to "outperform".
The shares climbed 3% to over 12 euros, having more than doubled since the beginning of the year.
The Canadian investment firm, which has had a "sector perform" rating on the shares so far, also raised its target price to 20 euros, from 8.5 euros, citing an European economy that is getting "consistently better."
In a research note, RBC explains that Air France-KLM still faces structural issues that it needs to resolve to deliver "sustained performance."
Note that RBC has also upped its rating on Germany's Lufthansa, with its shares currently up 0.6 percent in Frankfurt.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The shares climbed 3% to over 12 euros, having more than doubled since the beginning of the year.
The Canadian investment firm, which has had a "sector perform" rating on the shares so far, also raised its target price to 20 euros, from 8.5 euros, citing an European economy that is getting "consistently better."
In a research note, RBC explains that Air France-KLM still faces structural issues that it needs to resolve to deliver "sustained performance."
Note that RBC has also upped its rating on Germany's Lufthansa, with its shares currently up 0.6 percent in Frankfurt.
Copyright (c) 2017 CercleFinance.com. All rights reserved.