LONDON (AFX) - Morgan Stanley has the largest European Fluggesellsch aften Lufthansa (Lufthansa German) and Air France-KLM on Thursday assessed in contradictory studies. Penelope Butcher analyst raised her Einstufun g for the Lufthansa-paper of "equal-weight" to "Overweight" and increased its target price from € 18.70 to 19.00 (Exchange rate: 13.820) at €. An expert in preferred shares t the clear before that the Franco-Dutch airline, which they lowered g lighter periods of "Equal Weight" to "Underweight." The target price is clearly here he stomped s of 14.20 to 11.40 (Exchange rate: 10.015) a €.
Butcher trust of Lufthansa in the next two years a new s record operating results for. Adds that the recent assessment by the relapse of the act ie sector-wide search and attractive peers, and the debt ratio of 1.9 lies well below that of competitors Air France with 4.0 and International Air Lines Group (Borland Software) with 2.3. From the 28th July at the upcoming figures for the second quarter, Butcher expects a clearer picture of the profitability trends. Che possible portfolio adjustments could also drive the course.
Militate against a weaker price momentum and time dependence of the problematic markets against Air France-KLM. In the medium term are likely Sch wave countries including China and Latin America while increasing profitability in the short term but would offer the slowdown in Japan, and the unrest in the Middle East and North Africa th risks. Accordingly, there hlagspotenzial Rücksc market expectations. The premium assessment is not warranted.
According to the classification of "overweight" expects Morgan Stanley a überdurchsch nittlichen total yield of the stock compared to the other bank of the beoba chteten values in the same industry. In determining whether "Underweight" a lower rdurchschnittlicher total return is expected. Basis for a period between twelve and between 18 Monaten. / ag / gl
Institute analyzed is Morgan Stanley.
