Shares in International Consolidated Airlines (IAG) were up over 3.5 per cent this morning following a positive broker note and its chief exec saying that other airlines were keen to join the group.
Deutsche Bank's issued a note this morning indicating a target price of 570p for the group, that owns British Airways, Iberia and Aer Lingus – a 40 per cent premium to the current market price of IAG.
Meanwhile, chief executive Willie Walsh said at an airline conference in London that a number of airlines had were interested in joining IAG but added that the group is not actively looking for acquisitions at the moment.
"We're always looking for the opportunity," he said. "We're structured to facilitate further consolidation if the right opportunity comes along. We're not actively looking at anything in particular at the moment."
One week share price
The share price of British Airways' owner has increased by 10 per cent in the last week. Of the 22 analysts that cover IAG, 17 rate it as a "buy" with five rating it as a "hold". The lowest target price of the 22 is 375p, 12 per cent more than the current share price.
Intra-day share price
8 September 2016 @ 1:45pmInternational Consolidated Airlines Group SA (IAG)
On Monday, the group released passenger statistics which showed that August numbers were up by 10 per cent and up seven per cent on the year to date compared to 2015.