Ryanair: Liberum cuts target price, shares down

(CercleFinance.com) - Liberum has cut its target price for the Ryanair share from 14.
5 euros to 12.5 euros, citing the "numerous short-term headwinds" that the airline industry is facing.

"The demand outlook is potentially softening, fuel prices remain high and Brexit uncertainty persists," the broker wrote in a note.

"However, Ryanair's long-term fundamentals remain intact and attractive, with a low cost base, market leadership, a robust balance sheet and strong cash generation," it added, keeping a "buy" rating on the share.

The London-listed share is currently down 2.5% at 10.4 euros.

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