Barclays has reaffirmed its 'weighted in line' recommendation on Lufthansa, with a price target lowered from eight to 7.3 euros, in the wake of a reduction in its estimates for fiscal 2024 following an earnings warning issued for the first quarter.

We would be surprised if the first-quarter results scheduled for April 30 prove to be a positive catalyst", says the broker, who points to strategic and labor uncertainty, as well as a cheap valuation.

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