IAG: Deutsche Bank upgrades its buy recommendation

(CercleFinance.com) - Deutsche Bank announced on Wednesday that it had raised its recommendation on IAG from 'hold' to 'buy', with a price target raised from 215 to 400 pence, believing that the airline's turnaround was only just beginning.


In a research note, the analyst stresses that the limited capacity currently hampering transatlantic routes, which account for around 40% of British Airways' sales, should support the group's fares next year.

The research firm also cites the favorable economic outlook for the USA, the UK and Spain.

Adding to this the buoyant effect of lower kerosene prices, Deutsche Bank expects the owner of British Airways and Iberia to again exceed consensus forecasts in 2025.

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