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Fraport dives as Goldman Sachs cuts outlook - share wrap

Fraport CEO, Wilhelm Bender
Fraport CEO, Wilhelm Bender

Fraport shares slumped 7.1% yesterday as Goldman Sachs cut its price target on the stock from EUR24 to EUR19 with a "conviction sell" rating.

Goldman Sachs stated, "we believe that monthly traffic data will continue to highlight persistently weak passenger demand. Any announcement of a reduction in capacity by Lufthansa or other operators would also be a negative".

Elsewhere, Copenhagen Airports continued to bounce around, dropping 5.6% yesterday, while its majority shareholder, Macquarie Airports, had a strong day, adding 6.8%.

Selected airports daily share price movements (% change): 18-Mar-09

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