3 stories mentioning IAG.LUpdated 25d ago
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Goodbody on Friday raised the price target for British airline holding company International Consolidated Airlines Group (IAG.L, IAG.MC), or IAG,to 4.90 pounds sterling from 4.20 pounds, while maintaining a buy rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
London's FTSE 100 closed 0.36% in the green on Monday as Prime Minister Keir Starmer vowed to reinforce ties with Europe as part of efforts to create a "stronger, fairer Britain.""The last government was defined by breaking our relationship with Europe. This Labour government will be defined by rebuilding our relationship with Europe by putting Britain at the heart of Europe so that we are stronger on the economy, stronger on trade, stronger on defence, you name it," Starmer said in his so-called reset speech.Amid calls for him to quit, Starmer's speech in Central London also included a proposal to nationalize British Steel, pending a public interest test and royal assent of the new bill, which will be formally presented to parliament this week."Strong domestic steel production is vital for our economy, and this legislation would allow us to ensure stability for British Steel's workers, suppliers and customers and avoid damaging disruption to crucial supply chains, while we consider options for the [Scunthorpe] site's future," said Business Secretary Peter Kyle.In corporate news, food services company Compass Group (CPG.L) climbed 2.34% after profit attributable to equity shareholders for the six months ended March 31 increased year over year to $1.07 billion from $919 million on revenue growth."A solid H1 performance ~1% ahead of consensus for underlying EBITA and EPS. Net new business wins of +3.8% for H1 a touch below the typical 4-5% range (with Q2 implied rate muddied by Q1 rounding), but promise of H2 acceleration should be taken reassuringly. Guidance for FY underlying EBITA growth ticked up by at least 1 pp which appears to be driven by organic operating leverage," RBC Capital Markets said in its quick take note.International Consolidated Airlines Group (IAG.L) was one of the top stocks, rising 6.42%, amid plans to repurchase its outstanding 825 million euros of 1.125% senior unsecured convertible bonds due 2028.
British stocks finished the trading week in the red, with the FTSE 100 down 0.43% on Friday's close, as markets assessed a fresh batch of corporate updates while awaiting the outcome of the UK elections."The UK's ruling Labour Party has suffered heavy losses as the results of council elections start to come in. Most areas are yet to declare results, including in the crucial Scottish and Welsh parliamentary elections. Some Labour figures are already out this morning calling on Prime Minister Starmer to go," ING analysts said. "Investors will be watching the cabinet closely for signs of pressure or even resignations, as markets weigh up the possibility of an increase in borrowing later this year under different leadership scenarios."On the housing market front, average house prices in the country ticked down 0.1% month over month in April, following a 0.5% decline in March, data from Halifax showed. On an annual basis, average house prices were up 0.4%, against the 0.8% rise in the previous month.In corporate news, Intertek Group (ITRK.L) rejected Swedish private equity giant EQT's takeover offer for the third time, saying the conditional proposal "significantly undervalues" the group and its prospects. EQT's latest improved offer of 58 pounds sterling per share for the British quality assurance provider comes after previously rejected proposals of 54 pounds per share and 51.50 pounds per share. The stock lost 2.70% at closing.Meanwhile, International Consolidated Airlines Group's (IAG.L) total revenue grew 1.9% year over year to 7.18 billion euros in the first quarter, while after-tax profit surged to 301 million euros from 176 million euros. The group mainly attributed the growth to continued robust demand for its networks and airline brands. The British Airways owner's shares closed the trading session 2.83% lower."IAG have made a strong start to the year, although IAG's guidance/ commentary implies downside to FY26E EBIT. IAG expects to recover ~60% of higher fuel costs (~EUR1.9bn higher based on the forward curve on the 5 May) in FY26E through cost and revenue actions, which could suggest a decline in EBIT of ~EUR0.7bn to ~EUR0.8bn y/y in FY26E to EBIT of ~EUR4.2bn to EUR4.3bn in FY26E vs VA cons of EUR4.66bn," RBC Capital Markets said in a quick take note. "IAG trades at an attractive valuation, given its margin and return profile. Relatively high margins leave IAG's earnings less at risk to higher fuel costs than for some peers, and we think there is greater scope to pass on FY26E fuel headwinds in long-haul."
