Analysts at Investec initiated on ICAG with a “hold” rating and 281p price
target. Although the merger is expected to yield €400m of synergies by 2015,
analysts were wary that these gains have been more than offset by recent
increases in fuel prices.
As a result, the broker has short-term concerns that consensus estimates for
the airline’s earnings are “too bullish”.
ICAG has lost around 13pc since listing last month as fears over oil price
rises took their
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment