(CercleFinance.com) – Stifel remains Buy on the Ryanair share with a price target of 18E.
“Yields increased by +10% compared to pre-pandemic levels, while non-fuel unit costs remained stable compared to pre-pandemic levels”, notes the analyst.
The summer season and the ‘robust’ bookings announced by Ryanair confirms the broker who notes that on this basis, ‘the company expects a modest increase in net profit for the financial year 24 (cons.: stable; SFe: 1, 62 billion euros, i.e. +13% year-on-year)’.
Given this ‘rather cautious approach by the company to forecasts, and a €1 billion year-over-year effect on fuel costs’, Stifel considers this to be ‘a first constructive perspective for the 24’ exercise.
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