Oddo BHF confirms its 'outperform' rating on Ryanair and raises its target price from €24 to €26, in order to 'reflect a more favorable pricing momentum' for the Irish low-cost airline.

'The delay in Boeing deliveries and the good level of capacity on intra-European routes argue in favor of pricing holding up well over the summer and beyond', explains the analyst, who is thus more confident about his estimates for fiscal 2025.

Oddo BHF also points to a 'very comfortable cash level at the end of March 2024, paving the way for a share buyback announcement when the annual results are published', and still considers the valuation attractive in view of the company's fundamentals.

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