Citi upgrades Wizz Air to ‘neutral’ from ‘sell’
Wizz Air Holdings
1,443.00p
08:39 27/12/24
-1.50%
-22.00p
Citi upgraded its recommendation on shares of budget airline Wizz Air to ‘neutral’ from ‘sell’ on Wednesday, keeping the price target at 2,300p.
FTSE 250
20,530.90
08:40 27/12/24
n/a
n/a
FTSE 350
4,487.86
08:40 27/12/24
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FTSE All-Share
4,445.63
08:40 27/12/24
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Travel & Leisure
9,189.35
08:40 27/12/24
0.00%
9,189.35
The bank said that while Wizz will be burdened by higher costs in FY23, the company should exceed pre-pandemic levels of profitability in FY24, driven by the easing of unit cost ex-fuel and a better pricing environment.
"Meanwhile, the structural backdrop for Wizz remains supportive in the medium to long-term," Citi said.
At 1045 BST, the shares were up 1.2% at 2,075.00p