- IAG downgraded by Deutsche
- Barclays ups target price for Wise
- Moonpig target price lowered
IAG downgraded by Deutsche
Deutsche Bank has downgraded British Airways owner, International Consolidated Airlines Group SA LON:IAG to ‘Hold’ from ‘Buy’ and reduced its target price to 165p from 200p. The broker has reduced price targets across the sector due to a predicted drop in air fares next year, exercising “some caution” in light of expected weakness next year.
IAG shares were trading at 156.25p, up 21% for the year to date and up 41.5% over the last 12 months.
- Best-performing FTSE 100 stocks in 2024
- Three Quick Facts: Ashtead, Naked Wines, Moonpig
- Three Quick Facts: IAG, Serco, Vistry
Barclays ups target price for Wise
Barclays has increased its target price for Wise LON:WISE to 675p from 620p this week and reiterated its ‘Equal-weight’ rating. We covered the foreign exchange financial technology business last week which put out some punchy earnings guidance on 27 June, predicting growth in the range of 28-33%. Our AI company data partner Bridgewise currently rates the company as a ‘Strong Buy’.
Wise shares continue to make headway despite profit taking, trading at 661.6p today, up 19% this year and up 92% over the last 12 months.
Moonpig target price lowered
Berenberg Bank has reduced its target price for Moonpig LON:MOON this week from 270p to 250p but reiterated its rating as a ‘Buy’. Results announced a couple of weeks ago showed revenue growth up 5.2% and a 680bps increase in gross margin. Management noted that the current macroeconomic climate is limiting growth although the business continues to expand and an easing of these constraints is expected to come through in H2.
Moonpig shares are trading at 165.50p at the time of writing, up 50% this year but down 18% over the last 12 months.
