Deutsche Bank announced on Tuesday that it had reduced its price target on Air France-KLM shares from 10 to 8.5 euros following the third quarter results published by the air carrier.
The analyst, who maintains his 'hold' recommendation on the stock, explains that he is concerned about the difficulties currently encountered by KLM (shortage of pilots, maintenance problems), which leads him to revise his inflation forecast upwards. in terms of unit cost excluding fuel for the Dutch company.
As a result, the intermediary reduces its estimate of 2024 operating profit for the entire group by 4%, to bring it from 1.45 to 1.39 billion euros.
In order for Air France-KLM to be able to achieve its estimates, Deutsche Bank indicates that the group will have to sign a much better fourth quarter than that of last year, a scenario that it does not exclude in view of the sharp drop in its kerosene bill.
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