Ryanair: Barclays raises target price.
(CercleFinance.com) - Barclays reiterates its "overweight" rating on Ryanair shares, raising its target price to 20 euros after the low-cost airline published its FY 2017 results.
The broker says it continues to view Ryanair as the "highest quality airline," combining 10% topline growth with industry leading margins and balance sheet.
This should generate sufficient excess cash to buy back at least 5% of its market cap per annum, Barclays adds.
"Despite recent geopolitical volatility, we see clear upside to Ryanair's summer guidance," the broker writes in a research note.
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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.
The broker says it continues to view Ryanair as the "highest quality airline," combining 10% topline growth with industry leading margins and balance sheet.
This should generate sufficient excess cash to buy back at least 5% of its market cap per annum, Barclays adds.
"Despite recent geopolitical volatility, we see clear upside to Ryanair's summer guidance," the broker writes in a research note.
Copyright (c) 2017 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.