IAG tops Ibex 35 Value and forces Morgan Stanley to once again improve its price target.

If Morgan Stanley analysts were to improve their target price from 3 to 3.2 euros per share, They now value it at 3.8 euros per title. Or what is the same, behold The stock market potential exceeds 31%.

Between both forecasts IAG presented results recorded for the first nine months of the year. Profit before tax reached €2.955 million, up 13%. Accounts increased by 8.2% to €24.053 million.

IAG was recognized in the third quarter of the year as the major European airline group with the best financial performance for the period, ahead of rivals Air France-KLM and Lufthansa.

In addition, the company will launch €350 million share buyback program and focused on reducing share capital and delivering long-term sustainable rewards to shareholders.

Morgan Stanley analysts aren’t the only ones who have revised their estimates for IAG upward. In fact, they have almost all analyst firms that cover the daily life of the company.

Thus, Nine analysts currently have IAG’s target price above €3 per share. Among them are Oddo, Raymon James, CaixaBank BPI, Banco Santander, Intermoney Valores and JB Capital.

As well as Bank of America shares, which reduced IAG’s estimate from 2.8 euros per share to 3.6 euros per share.

Thus, and taking into account the data collected by LSEG, IAG’s average target price is €3.07, implying a potential of 6.5%. Most recommend buying.

IAG, best price among Ibex 35

In the three sessions since IAG reported its earnings on November 8, the company has posted a 10% gain. This progress has allowed will surpass Banco Sabadell (59.2%) as the best performer on the Ibex 35 index in 2024. Likewise, it helped extend its lead over CaixaBank (49.4%) or Mapfre (33.4%).

With the accumulated revaluation of 62.4% to date, this may be IAG’s second best year on the stock market since it became a listed company in 2011. Your best exercise at the moment is 2013, when its market value increased by 117%.