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- Deutsche Bank upgrades Deutsche Lufthansa AG (OTCQX:DLAKF) all the way up to a Buy rating from Sell.
- Analyst Jaime Rowbotham: "We don’t find Lufthansa’s medium-term targets to be overly ambitious, based on pre-crisis profit margins and the number of cost actions that have been taken or are being made."
- "While we think an adjusted EBIT margin of over 8% and an adj. FCF of ~€2bn could both be delivered in 2024, we are at 7.1% and ~ €1.7bn (~24% yield) respectively, mainly due to assuming that Lufthansa is only able to get ~50% of the cost savings it is targeting from further staff cost reductions."
- Shares of Deutsche Lufthansa are up 2.68% in Frankfurt trading.
- Compare Deutsche Lufthansa to other global airlines stocks.