Ryanair: Oddo confirms rating after sales published
(CercleFinance.com) - Oddo has confirmed its buy rating on the Ryanair share, along with its target price of 21 euros, after the group announced its sales figures.
We remain positive on Ryanair because the company continues to display the most competitive cost structure, even integrating the inflation of staff costs, the broker's analysts explained.
We still believe that the upbeat environment for capacity (as a result of the concentration movement in Europe) will enable Ryanair to offset this additional inflation in personnel costs by higher prices.
The group announced Q3 sales that are 5% above the consensus, with reported earnings of 106 million euros (Oddo BHF: 103 million euros, Consensus: 101 million euros) up 12%, with a net margin of 8% (+100bp over the year).
Ryanair has confirmed its 2018 previous earnings target of between 1.40 billion euros and 1.45 billion euros.
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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.
We remain positive on Ryanair because the company continues to display the most competitive cost structure, even integrating the inflation of staff costs, the broker's analysts explained.
We still believe that the upbeat environment for capacity (as a result of the concentration movement in Europe) will enable Ryanair to offset this additional inflation in personnel costs by higher prices.
The group announced Q3 sales that are 5% above the consensus, with reported earnings of 106 million euros (Oddo BHF: 103 million euros, Consensus: 101 million euros) up 12%, with a net margin of 8% (+100bp over the year).
Ryanair has confirmed its 2018 previous earnings target of between 1.40 billion euros and 1.45 billion euros.
Copyright (c) 2018 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.