BUZZ-Macquarie trims PT for Air New Zealand on lower near-term earnings

Reuters04-23

** Analysts at Macquarie lower price target for Air New Zealand to NZ$0.75 from NZ$0.77 and maintain "outperform" rating

** Reduce earnings per share estimate for the flagship carrier by 9.8%, 4.5% and 3.1% for FY24, FY25 and FY26, respectively, on lower near-term earnings

** Co noted weak revenue conditions in domestic and North America on April 22, while reducing earnings before tax forecast to NZ$190 mln to NZ$230 mln ($112.42 mln - $136.09 mln) from NZ$200 mln to NZ$ 240 mln

** Shares of AIR fall as much as 1.8% to NZ$0.560

** Avg rating of five analysts, including Macquarie's, an equivalent of 'hold'; their median PT is NZ$0.60 - LSEG data

** Stock has fallen 10.2% this year, as of last close

($1 = 1.6900 New Zealand dollars)

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.Kumar@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment