IAG price target raised to 350 GBp from 270 GBp at Jefferies

Jefferies raised the firm’s price target on IAG (ICAGY) to 350 GBp from 270 GBp and keeps a Buy rating on the shares. The firm expects Q4 to deliver similar trends to Q3, driving confidence in the short-term macro and travel environment. Medium term, the analyst expects a multi-year earnings and re-rating story, as the Boeing (BA) turnaround and delivery of the next generation fleet offer scope for further consensus upside.