Fraport: stock drops after broker downgrade

(CercleFinance.com) - Down over 2%, the Fraport share has suffered one of the biggest falls on Frankfurt's MDAX index on Wednesday, hit by Berenberg's downgrading the stock from "buy" to "hold".


In its comments on European airlines, the German broker notes that shares of airport operators have risen by 27% over the past 12 months due to progress in vaccination campaigns and the reopening of economies.

At current valuation levels - which are almost back to those of 2019 - the sector's risk/return profile is much less attractive than it was a few months ago.

Analysts have also downgraded their rating on its French peer, ADP.


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