** 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;))
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