Broker Recommendations : British Airways - IAG, Cobham, Easyjet
25/08/2011 by ukcitymedia.co.uk about : Broker Recommendations - 0 Comments - 175 words
Citigroup rates the British Airways parent firm IAG a 'buy' setting a target price of 300p. IAG’s recent results were the best of all the European flag carriers so far this quarter with passenger revenues rising 9.4%. Citi expects fresh synergy between BA and Iberia. BMI and TAP Air Portgual are also seen as possible takeover candidates.
Goldman Sachs has upgraded Cobham to 'buy' from 'neutral'. The defence group has a potential 26% upside, thinks the broker although it is generally negative on the UK defence sector. Cobham’s strong balance sheet plus a robust dividend provide a compelling investment case. Goldman Sachs expects Cobham to bolt-on acquisitions using free cash flow or even be taken over itself. Target price raised to 225p.
Deutsche Bank rates Easyjet a 'buy' and raises target price from 480p to 490p after third quarter resultsfor the budget airline were significantly ahead of city expectations. Full-year profit are forecast at £225m before tax, from £194m while full-year earnings per share forecast remains unchanged given the fuel headwind.
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