FRANKFURT (dpa-AFX) - Praise from Morgan Stanley analysts further fueled Lufthansa's rally on Monday. Shares climbed in early trading to €9.21, reaching their highest level since August 2023. Most recently, they were trading at €9.14, still up two and a half percent compared to the previous day.
In the still young year of 2026 alone, shares of the MDax-listed company have already gained almost nine percent, while since their October low, the price increase totals more than a third. Recently falling oil prices have also provided tailwind, as jet fuel is one of the largest cost factors for airlines.
The Morgan Stanley analysts led by Cedar Ekblom raised their price target for Lufthansa shares from €5.40 to €9.30 and upgraded them by two notches from "Underweight" to "Overweight". However, following the recent strong performance, the expected upside potential has already diminished somewhat.
Nevertheless, for 2026, Lufthansa remains among their favorites in the broader transport sector, while the Morgan Stanley experts take a more cautious view on budget carrier Easyjet (-0.2 percent) and shipping company Maersk (-0.7 percent). Regarding Easyjet, the analysts cite short-term profitability pressures, while for Maersk they see the risk of overcapacity.
According to their sector study, Lufthansa impresses the analysts with its ongoing restructuring. This could lead to average annual EBITDA (earnings before interest, taxes, depreciation, and amortization) growth of 20 percent from 2025 to 2027, they noted. In addition, the debt ratio is expected to fall thanks to the anticipated free cash flow./mis/lew/zb
