Air France-KLM: fragile margins, according to Credit Suisse
(CercleFinance.com) - Credit Suisse has confirmed its "neutral" rating on the Air France-KLM share, while cutting its corresponding target price from 10 euros to 9.
37 euros, slightly above the share's current price.
After the group's publication of August traffic figures, analysts have reduced their 2019 operating income estimate by 12%, to 1.04 billion euros, while they have cut their 2020 estimate by 10% to 1.06 billion euros and 6% for 2021. These reductions explain the cut in their target price for the share.
Credit Suisse points out "Low-margin fragility evident ahead of CM" which is scheduled for 5 November.
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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.
37 euros, slightly above the share's current price.
After the group's publication of August traffic figures, analysts have reduced their 2019 operating income estimate by 12%, to 1.04 billion euros, while they have cut their 2020 estimate by 10% to 1.06 billion euros and 6% for 2021. These reductions explain the cut in their target price for the share.
Credit Suisse points out "Low-margin fragility evident ahead of CM" which is scheduled for 5 November.
Copyright (c) 2019 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.