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Davy Research

Ryanair Holdings

25% upgrade at mid-point

Jan 5 2023, 07:00 GMT
Stephen Furlong
Company Report
5 page(s)

Sectors : Airlines

Companies : Ryanair Holdings

Ratings and price correct at time of issue.

Ryanair Holdings

Closing Price: 1285c
RATING 07/12/09
OUTPERFORM
PREVIOUS RATING 02/11/09

NEUTRAL

Person's Name

Stephen Furlong

Analyst

DAVY VIEW

Very strong Christmas trading has led Ryanair to upgrade guidance for FY23, implying PAT of €1.325-1.425bn (versus previous guidance of €1-1.2bn). We continue to believe that Ryanair’s balance sheet, market position and cost advantage leave it very well placed in this upgrade cycle. Ryanair will next report at its Q3s on January 30th, when we will get detailed KPIs.

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Jan 5 2023, 07:00 GMT