Lufthansa upped to 'buy' at Citigroup in a sector review

In a note published this morning, Citigroup said Lufthansa is one of its top picks and it is upgrading the group on valuation grounds, although it does expect it to be the only stock to post higher profits in the second quarter.
 
The broker added that the nosedive in share prices across the sector suggests that much of the bad news has already been priced in, and for long-term value investors a number of opportunities exist and is upgrading Iberia and Austrian Airlines.
 
Citigroup also said it is downgrading Ryanair to reflect a change in oil price, general model updates and inclusion of the Aer Lingus stake.   Finally, the broker has lowered its estimates for Alitalia to reflect a heightened financial risk following continued heavy losses and the failure to sell the company to Air France, resulting in a need for re-capitalisation.

Date posted: 29-Jul-08
 

Other Lufthansa News

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• Lufthansa is planning flights to Iraq
• Germanwings flies with Lufthansa Systems’ navigation charts
• David Albaiceta named new GM Asia Pacific at Lufthansa Cargo Charter
• AeroMobile hails "transformational" Lufthansa deal
• FlyNet takes off again: Lufthansa relaunches inflight Internet
• First Embraer 195 jet is delivered to Lufthansa Cityline
• Lufthansa inks codeshare pact with JetBlue
• Lufthansa expands its services to Africa