Goldman Sachs Upgrades Ryanair (RYAAY) to Buy

December 4, 2012 11:17 AM EST
Get Alerts RYAAY Hot Sheet
Price: $84.47 +0.23%

Rating Summary:
    6 Buy, 6 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Earlier, Goldman Sachs upgraded Ryanair (NASDAQ: RYAAY) from Neutral to Buy.

The firm comments, "We expect Ryanair to benefit from continued pricing strength in 2H13/FY14 (we forecast revenue per pax growth of 5.4%/3.2%) owing to capacity discipline in the European short-haul market. This, together with limited capex commitments, should drive improving asset turn and returns on capital as well as significant cash generation, placing Ryanair at an increasing discount to its historical valuation."

The firm raised their 12-month price target to €6 from €4.36, suggesting 25% upside.

For an analyst ratings summary and ratings history on Ryanair click here. For more ratings news on Ryanair click here.

Shares of Ryanair closed at $34.58 yesterday.

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