Login/Register

Barclays downgrades Thomas Cook 'but may be wrong'

Market Buzz

Barclays downgrades Thomas Cook 'but may be wrong'

Fri, 19 May 2017
Article viewed 155 times
http://stmedia.digitallook.com/web/img/dl/thomas_cook_airbus_a320_opt.jpg
bool(true)
Barclays downgrades Thomas Cook 'but may be wrong'

(ShareCast News) - Thomas Cook shares took a hit on Friday after they were downgraded by Barclays after a good rally since last summer.
In November Barclays had upgraded the shares and set a target price of 100p, which has almost been breached, with the shares outperforming Tui and the FTSE 250 and is still facing a challenging market with growing concerns over the UK consumer.

"We believe the management team is doing all of the right things to make TCG a sustainable, profitable business," analysts wrote on Friday, saying the turnaround over the last five years has been impressive.

But Barclays acknowledged that downgrading to 'equalweight' from the previous 'overweight' rating "might be wrong" as earnings momentum may improve if Thomas Cook can successfully turn around Condor in Germany, deliver most cost savings, with the group's high financial leverage meaning a small change in EBIT has a big impact on EPS.

NASDAQ 100 Top Risers

Name Last Chg.% Time
O'Reilly Automotive Inc. 209.59 3.62 22:35
Liberty Interactive Corporation QVC Group 23.76 2.72 22:34
Paychex Inc. 59.75 2.68 22:35
Seagate Technology Plc 33.57 2.60 22:49
Lam Research Corp. 176.73 2.58 22:53

NASDAQ 100 Top Fallers

Name Last Chg.% Time
Tesla Inc 351.09 -4.20 23:10
Incyte Corp. 110.85 -3.65 23:04
Mattel Inc. 14.52 -3.20 23:01
NetEase Inc. Ads 271.61 -2.16 22:34
Kraft Heinz Co. 77.52 -1.89 22:35