Lufthansa: Berenberg downgrades to 'sell'

(CercleFinance.com) - Lufthansa shares fell on Thursday after analyst firm Berenberg downgraded the German flagship airline from "hold" to "sell," citing balance-sheet issues.


"Easing lockdowns and a turn in booking patterns have returned investor interest to European flag carriers. Regardless, we see clouds of financial repression gathering", Berenberg said in a note.

The research firm also cut its target price for the share, from 12 euros to 8 euros.

Lufthansa shares were down 2.2% on Thursday morning, one of the worst performers in the Frankfurt DAX index.

Copyright (c) 2020 CercleFinance.com. All rights reserved.