Broker cuts BA targets
06.05.08
Investment analysts at UniCredit 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, with the shares down 4% (10p) to 238.75p today.
In a research note published today, the analysts say BAs’ EBIT (earnings before interest and tax) is likely to decline by £450 million in 2008/09 due to fuel costs. In addition, its EPS (earnings per share) estimate for 2008/09 has been reduced from £47 to £32.
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