Air Berlin downgraded to ‘sell’ from ‘hold’ by ABN Amro
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Continental Europe,
Air Berlin
(XFN Asia) ABN Amro has downgraded its stance on Air Berlin Plc to 'sell' from 'hold' and cut its target price to EUR5 from EUR11.50.
ABN Amro noted Air Berlin's very weak 2007 results, with EBIT declining 67% year-on-year and the company reporting a pretax loss.
According to ABN Amro, Air Berlin is missing its substantially reduced guidance and, furthermore, there is a lack of strategic clarity, uncertainty about the proposed Condor deal and an extreme risk in the launch of long-haul operations to China.
Date posted: 11-Apr-08
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Air Berlin downgraded to ‘sell’ from ‘hold’ by ABN Amro 
