Proactive Investors - Shares in Ryanair (LON:0RYA), easyJet (LON:EZJ) and Wizz Air Holdings PLC (LON:WIZZ) edged higher on Wednesday morning following sweeping upgrades from Deutsche Bank (ETR:DBKGn).
Wizz Air was granted a ‘hold’ rating by Deutsche in a Wednesday morning note, up from a ‘sell’ rating previously.
Deutsche highlighted a better-than-expected outlook from Wizz itself over efforts to mitigate the impact of aircraft groundings due to investigations into Pratt & Whitney engine issues.
Resilient demand for intra-European travel into 2024 was also cited, prompting Deutsche to bump up the airline’s share price target from 1,800p to 2,300p, marking a prospective 11.5% jump on Tuesday’s close.
‘Buy’ ratings were held for Ryanair and easyJet meanwhile, with lower than expected fuel costs set to provide tailwinds for each.
Both saw share price targets bumped up as a result, with Deutsche seeing 40% upside in Ryanair stock and growth of 21% for easyJet.
Shares in the trio rose on the news, with Wizz Air up 1.2%, easyJet up 0.7% and Ryanair up 0.3%.