Ryanair Holdings PLC (LSE:RYA) has received a price target upgrade to €21 (from €19.50) from the analysts at Canadian bank RBC after the airline’s first-half results yesterday.
Increased earnings estimates (4%) and net cash forecasts reflecting lower price cuts mean the bank now sees upside to flat all-in cost per passenger guidance and sees a 1% reduction in all-in unit costs.
Delays to Boeing deliveries will also boost the short-term cash position.
“We see Ryanair as attractively valued on 10 times 2026 PE ratio, generating more than 10% FCF yields.”
Shares today were up 0.7% at €18.13.