IAG Nears Year-Long High on Morgan Stanley Backing
The airline’s shares accelerated their rise, well above the two-euro barrier, one step away from their yearly highs, on a day when Morgan Stanley analysts, the only ones to maintain a negative recommendation on IAG, issued a two-fold price increase.
After five consecutive days above the €2 barrier, the first cross of today’s session on Ibex has triggered IAG to rise above 3%. At intraday highs is approaching its peak for the year2.16 the euro reached in May last year.
Recent oil price adjustments are helping the sector. But the main incentive for taking positions in IAG is Double Update Released by Morgan Stanley. American firm raises two steps at once
After five consecutive days above the €2 barrier, the first cross of today’s session on Ibex has triggered IAG to rise above 3%. At intraday highs is approaching its peak for the year2.16 the euro reached in May last year.
Recent oil price adjustments are helping the sector. But the main incentive for taking positions in IAG is Double Update Released by Morgan StanleyThe American firm suddenly raised its recommendation for the airline by two notches. from “underweight” to ‘overweight‘.
Morgan Stanley’s greater optimism about IAG’s stock market performance is also leading to improved his rating by 33%. US bank raises price target from 2.1 to 2.8 euros per share.
A new estimate released by Morgan Stanley represents Growth potential 37% from the level at which it began today’s session. The increase would represent a near tripling of the gains recorded this year from 14% at yesterday’s close.
The improvement released on IAG is happening in parallel with decrease issued by Morgan Stanley to another European airline such as LufthansaThe US bank downgraded the German group’s rating from “market strength” to “underweight” because it is more exposed to long-haul flights and business travel.
Resistance to sales advice
Morgan Stanley’s IAG Outlook Improves reduces the sales recommendation field to zero on the airline’s shares listed on Ibex.
According to data compiled by LSEG, given the improvement in Morgan Stanley’s position, of the 15 firms listed by IAG on Ibex, twelve advise:buyIn their actions, three recommend “holding” the investment, and none suggests “selling.”
He market consensus He also has a largely bullish view, with an average price target of €2.52 per share, up 23% from yesterday’s close. Morgan Stanley raises that potential to 37%.