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Ryanair: Oddo confirms rating and target price

(CercleFinance.com) - Oddo has confirmed its buy rating on the Ryanair stock, along with its target price of 21 euros, after the group's announcement of its recognition of trade unions.

The Irish low-cost airline intends to recognise as representatives a number of trade unions of pilots in the following countries: Ireland, United Kingdom, Germany, Italy, Spain and Portugal.

This would represent a turning point, as until now, the group had always refused this recognition.

This recognition of the trade unions is a major development that does not bring into question Ryanair's cash profile, Oddo says, adding that at present its estimates remain unchanged.

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