Ryanair’s first quarter came in ahead of consensus and Liberum’s forecast, boosted by a strong Easter, Coronation weekend and week comparatives.
Analysts reaming “bullish”, holding its Buy rating and setting a target price of €16.4.
“Ryanair gave no full-year profit guidance range, but management sees net profit modestly higher year-on-year. Consensus is considerably more bullish than this,” the broker said.
Liberum also noted that Ryanair continues to trade at a premium compared to its European peers, although the broker believes this is justified by its market-leading position, track record of profitable growth, superior unit costs and strong balance sheet.