NEW YORK (dpa-AFX) - According to the US bank JPMorgan, the short-term outlook for Lufthansa's operating business has darkened. Analyst Harry Gowers therefore lowered his price target for the airline's shares, which already had a negative rating, slightly to 5.60 euros.

However, he attracted particular attention with his "Negative Catalyst Watch" status for the shares. This means that he expects negative price drivers when the half-year results for the second quarter are published at the end of July.

Gowers assumes that the second quarter will be relatively weak in terms of profitability, burdened by falling air fares and rising costs. Lufthansa's first quarter of the year had already been severely affected by strikes, the expert recalled.

The expert believes it is possible that market forecasts will fall over the coming months and that the company's targets will be further reduced. He therefore lowered his earnings estimates (EBIT) for the years 2024 to 2026.

According to the "Underweight" rating, JPMorgan expects the share to underperform the respective sector in the coming six to twelve months./edh/gl/stk

Analyzing institute JPMorgan.

Publication of the original study: 12.06.2024 / 19:10 / BST First transmission of the original study: 13.06.2024 / 00:10 / BST