The analyst updates his target after the profit warning. It remains Buy on the stock, but has lowered its target to E12.3 (from E13.6), which represents a potential upside of 87%.

' We are adjusting estimates for FY2024 following the strike and potential disruption, slightly lower capacity expected in Q2 2024 and recent fuel price developments' says UBS.

The Group expects Q2 operating profit to be lower than last year. Second-quarter earnings are likely to be negatively impacted by a further 100 million euros due to wage disputes. In the second half of the year, earnings should be higher than in the previous year.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.