Ryanair: Canaccord cuts target price

(CercleFinance.com) - Canaccord maintains its "hold" rating on the Ryanair share, while cutting its target price from 10.
9 euros to 10.2 euros, after reducing its earnings estimates for the Irish low-cost airline.

"With earnings set to weaken further in the current financial year, we expect the share price to tread water until the revenue environment recovers," the Canadian broker says in its report.

Canaccord also judge that uncertainty around the deliveries of MAX aircraft is by no means helpful, as "while it may provide near term support to yields, it may also adversely impact unit costs and medium-term growth".


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