Deutsche Bank upgrades Wizz Air to 'buy'

(Sharecast News) - Deutsche Bank upgraded Wizz Air on Wednesday to 'buy' from 'hold', keeping the price target at 1,500p. It said that circumstances - many outside the company's control - have forced Wizz to have a re-think.

"On top of the suspension of Abu Dhabi operations and decision to realign the strategy and focus on core markets, with the results last Thursday Wizz divulged that it will: (i) slow its growth ambition from 15-20% per annum to 10-12% over the next circa 3 years; (ii) only take 10-15 XLRs versus the 47 on order, converting the balance to A321neos where a more deferred delivery timetable out to 2032 is envisaged; (iii) aim to have zero aircraft grounded due to GTF engine issues by mid-2027," DB said.

At 1435 BST, the shares were up 2.1% at 1,240p.