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Getlink: Barclays confirms rating - ups target price

(CercleFinance.com) - Barclays estimates that Eurostar will be affected by French rail strikes, ongoing since 5 December.

"40% of capacity was cancelled in the first week, a number that has improved since then, but anecdotal evidence suggests trains were far from full," analysts said.

Overall, Barclays expects traffic to decrease by 3% for Eurostar, including a 6% decrease in Truck Shuttle traffic and a 1% blip for Car Shuttle traffic in Q4 2019.

"As a result, we expect a FY-19 EBITDA of EUR562m, down 1%, in line with company guidance (EUR563m at current FX)," analysts add.

Barclays has increased its target price for the share to 15 euros (against 13 euros), following the recent rise in GBP/EUR and confirms its neutral recommendation ("equal weight").

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