Air France-KLM slips as Kepler downgrades shares on "excessive rally"
Investing.com -- Kepler Cheuvreux downgraded Air France-KLM to Reduce from Hold, saying an outsized rally in the shares has left little room for further gains despite raising its price target. Analyst Marc Zeck said Air France-KLM "has outperformed the sector since the start of the Iran crisis and now trades at the upper end of its five-year share price range," adding that he believes the share price rally "has been somewhat excessive." The carrier’s shares fell 3.5% in Paris trading by 10:37 GMT.
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Investing.com -- Kepler Cheuvreux downgraded Air France-KLM to Reduce from Hold, saying an outsized rally in the shares has left little room for further gains despite raising its price target. Analyst Marc Zeck said Air France-KLM "has outperformed the sector since the start of the Iran crisis and now trades at the upper end of its five-year share price range," adding that he believes the share price rally "has been somewhat excessive." The carrier’s shares fell 3.5% in Paris trading by 10:37 GMT. Kepler raised its target price to €11.50 from €10.50, but that still implies roughly 11% downside from the Thursday closing price. Zeck said the airline "offers the most balanced and highest-quality premium cabin product" in its coverage, but noted that the strong recovery in the share price combined with an absence of company-specific catalysts limits the stock’s near-term appeal.
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- Investing.com -- Kepler Cheuvreux downgraded Air France-KLM to Reduce from Hold, saying an outsized rally in the shares has left little room for further gains despite raising its price target. Analyst Marc Zeck said Air France-KLM "has outperformed the sector since the start of the Iran crisis and now trades at the upper end of its five-year share price range," adding that he believes the share price rally "has been somewhat excessive." The carrier’s shares fell 3.5% in Paris trading by 10:37 GMT.
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Air France-KLM slips as Kepler downgrades shares on "excessive rally"
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