Lufthansa: UBS lowers target price

(CercleFinance.com) - The UBS analyst has updated his TP after its profit warning.
While still a buyer of the stock, he has lowered his TP to E12.3 (from E13.6), which still represents huge upside potential of 87%.

We are adjusting estimates for FY2024 following the strike and potential disruption, slightly lower capacity expected in Q2 2024 and recent fuel price developments, UBS says.

The group expects Q2 operating profit to be lower than last year. Q2 earnings are likely to be negatively impacted by a further E100m, due to wage disputes. H2 earnings should however be higher than in the previous year.


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