Stifel downgraded Lufthansa to Hold from Buy with a price target of EUR 7, down from EUR 11. The firm believes the spill-over effects from the Q1 labor strikes had a more profound impact on Q2 unit revenues than thought and cut its FY24 EBIT estimate by 15%. The “still solid” mid-term prospects at Lufthansa are overshadowed by a depressed short-term outlook, the analyst tells investors.
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