Barclays reaffirms its ‘underweight’ recommendation on Fraport with a price target lowered from 54 to 52 euros, in the wake of a 3-5% reduction in its 2022 2024 EBITDA estimates for the German airport operator.
‘Despite regulatory inflation protection and cost restructurings on the way, we remain underweight due to high leverage and uncertainty around the restoration of dividends, which we do not expect until 2025 ‘, he explains.
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