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Prices & Quotes - UK Markets - International Consolidated Airlines Group SA (CDI) (IAG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 106.85p
Change Today:
6.85p
Market Cap:
5,312m
Sector:
Travel & Leisure

Berenberg lowers target price on IAG, retains 'buy' rating

By Iain Gilbert

Date: Monday 03 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg lowered their target price on British Airways parent International Consolidated Airlines from 375.0p to 300.0p on Monday but said IAG's planned equity raise paved the way for "unrivalled consolidation" and dividend flexibility.
Berenberg said IAG's leverage and liquidity will likely return to palatable levels by 2022 and stated its sensitivity analysis suggested pro-forma price-to-earnings ratios will remain more than 10% below mid-cycle levels.

However, while the German bank cut its estimates on an expected slower revenue trajectory to one-third below 2019 levels, Berenberg thinks there will asymmetric upside in IAG's shares and opted to retain its 'buy' rating on the stock.

"Even through a slow recovery, we expect opportunities from overhangs related to IAG's rights issue, the Air Europa purchase and labour/fleet restructuring to fall away," said the analysts.

Berenberg highlighted that IAG currently trades on an enterprise value to earnings before interest, taxes, depreciation, amortization and rent of 3.2x its 2022 estimates, while enterprise value to invested capital also remained "compelling" at 0.9x given that it expects the group to generate a return on invested capital in excess of the weighted average cost of capital through the cycle and in 2022 - well before its peers.

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IAG Market Data

Currency UK Pounds
Price 106.85p
Change Today 6.85p
52 Week High 444.41p
52 Week Low 91.00p
Volume 55,708,261
Shares Issued 4,971.48m
Market Cap 5,312m

Performance Indicators

Compare performance with the sector and the market.

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Income
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Growth
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P/E
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Dividend Yield
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EPS Growth
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Operating Margin
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What The Brokers Say

Strong Buy 14
Buy 2
Neutral 9
Sell 1
Strong Sell 0
Total 26
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

IAG Dividends

  Latest Previous
  Interim Final
Ex-Div 28-Nov-19 04-Jul-19
Paid 02-Dec-19 08-Jul-19
Amount 14.50¢ 16.50¢

Trades for 20-Oct-2020

Time Volume / Share Price
17:06 37,500 @ 106.85p
16:35 5,292,065 @ 106.85p
16:30 37,784 @ 99.38p
16:29 5 @ 107.00p
16:29 190 @ 107.00p

IAG Key Personnel

Chair Antonio Vzquez Romero
CEO Luis Gallego
CFO Stephen Gunning