Air Berlin outlook rated 'neutral'; easyJet and Ryanair downgraded; Valencia is Ryanair’s 43rd base
Shares in Air Berlin were 1.5% lower yesterday, after gaining 1.1% on Tuesday. Also on 22-Jun-2010, SADI-Investment Analytics applied its StockMarks stock-rating system to Air Berlin, adding that Air Berlin is an “above average quality company with a neutral outlook”.
The company added: “Air Berlin Plc has strong business growth and is run by efficient management. When compared to its closest peer, Deutsche Lufthansa AG, Air Berlin Plc shows similar undervaluation and is more likely to outperform the market."
Meanwhile, shares in easyJet gained 1.2% yesterday, following a 3.1% reduction on Tuesday, after JP Morgan Cazenove downgraded the carrier’s shares from ‘overweight’ to ‘neutral’, due to the expectation that full-service carriers will soon start outperforming LCCs.
In other Ryanair news, the carrier announced plans to open its 43rd base – at Valencia Airport – from Nov-2010, with two aircraft based there and 31 routes (with 260 weekly frequencies).
Selected LCCs daily share price movements (% change): 23-Jun-2010