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Prices & Quotes - UK Markets - Wizz Air Holdings (WIZZ)

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:
Down 3,360.00p
Change Today:
-94.00p
Market Cap:
2,870.83m
Sector:
Travel & Leisure

Berenberg hikes target price on Wizz Air

By Iain Gilbert

Date: Tuesday 09 Jun 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg hiked their target price on low-cost carrier Wizz Air from 3,200.0p to 4,000.0p on Tuesday, stating the group was in the right passenger segment for recovery.
Berenberg said it remained "positive" on Wizz Air's "unique growth profile" following its 2020 results and several roadshow meetings and now expects the airline to capitalise on tight cost control, significant liquidity, a relatively isolated route network, and a customer demographic that is likely to resume flying earlier than those of other airlines.

Wizz Air had previously highlighted that bookings from younger passengers and those visiting friends and relatives were "significantly higher" in May versus its annual average and with an average customer age of 36, the German bank said Wizz was likely to benefit from a quicker return of demand.

The analysts estimated that Wizz Air has over 16 months of liquidity available at near-zero demand, assuming outflows of roughly €90m and highlighted that importantly, daily bookings had begun to improve to approximately €4m from under €1m - but still well shy from the €10m it often records in strong seasonal periods.

Berenberg also revised its capacity outlook and mark fuel and currency to market when taking another look at its target price and reiterating its 'buy' rating on the firm.

"We expect Wizz to return to its FY 2020 revenue by FY 2022, at least one year before most other carriers in our global airlines coverage. Hedging losses should fade beyond FY 2021, and we incorporate lower airport charges into our outlook. Changes increase our FY 2022E net income by 8%," said the analysts.

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WIZZ Market Data

Currency UK Pounds
Price 3,360.00p
Change Today -94.00p
52 Week High 4,496.00p
52 Week Low 2,006.00p
Volume 164,349
Shares Issued 85.44m
Market Cap 2,870.83m

Performance Indicators

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What The Brokers Say

Strong Buy 12
Buy 1
Neutral 7
Sell 0
Strong Sell 1
Total 21
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

WIZZ Dividends

No dividends found

Trades for 21-Oct-2020

Time Volume / Share Price
16:35 66,433 @ 3,360.00p
16:29 200 @ 3,378.00p
16:29 3 @ 3,372.00p
16:29 9 @ 3,372.00p
16:29 4 @ 3,372.00p

WIZZ Key Personnel

Chair William Franke
CEO Jozsef Varadi