International Consolidated Airlines gains after RBC Capital Markets highlights bull case [Seeking Alpha]
INTL CONSL AIRLNS S/ADR (ICAGY)
NASDAQ:AMEX Investor Relations:
iagshares.com
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Source: Seeking Alpha
capacity will turn from being a headwind to a tailwind to help boost EPS. The firm took its rating on the multinational airline holding company to Outperform from Sector Perform. Analyst Ruari Cullinane highlighted that IAG now generates the second highest margins in the European airline sector, but by some metrics trade on the cheapest valuation in the firm's airline coverage. IAG is noted to have consistently delivered positive or in-line results. However, the share price has only increased 3% over that same period period. RBC Capital sees upside to 2024 consensus expectations. "We firm our forecast for 2024 unit revenue growth (again) here to +1.5%, although we think the non-persistent nature of the 4Q unit revenue headwinds leaves more upside potential than downside risk to our forecast," wrote Cullinane. If IAG keep delivering better margins than most airline peers, Cullinane and team plan to reflect the outperformance in the valuation methodology on the airline stock. IAG's
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News
- EU antitrust regulators warn IAG, Air Europa deal may reduce competition [Reuters]Reuters
- EU antitrust regulators warn IAG, Air Europa deal may reduce competition [Reuters]Reuters
- Lufthansa offers concessions to gain EU nod on ITA takeover [Yahoo! Finance]Yahoo! Finance
- Exclusive: EU regulators have not sought feedback on IAG's Air Europa deal, sources say [Reuters]Reuters
- British Airways-owner IAG mulls dividend payout this year, Bloomberg News reports [Reuters]Reuters