Broker downgrades BA
06.05.08
Analysts at UniCredit Markets & Investment Banking have downgraded their estimates for British Airways, whilst maintaining their 'hold' rating on the stock. The target price has been reduced from 310p to 250p. The shares were down 4% to 238.75p today.
In a research note published today, the analysts say British Airways’ EBIT (earnings before interest and tax) is likely to decline by £450 million in 2008/09 due to fuel costs. The EPS (earnings per share) estimate for 2008/09 has been reduced from £47 to £32.
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