Low-cost airline Ryanair Holdings PLC (Nasdaq: RYAAY) is in recovery mode and witnessing huge demand from passengers, as it bounces back from the pandemic.
The company carried 15.9 million passengers in June compared to just 5.3 million last year.
This year, the company has even surpassed its pre-COVID number of 14.2 million.
The investors seemed happy with the numbers and the stock gained around 2% in a day after a dull performance in the year so far.
The company’s CEO Michael O’Leary is highly positive about these numbers and said, “July, August, and September look very strong with higher load factors and also higher fares.”
But the company is facing some headwinds with its cabin crew strikes across Europe. The company is expecting minimal disturbance with more strikes expected in July.
TipRanks data shows that financial blogger opinions are 92%% Bullish on Ryanair stock.
View from the City
According to TipRanks’ analyst rating consensus, Ryanair Holdings stock is a Strong Buy.
All three analysts have given a Buy recommendation for the stock.
The average Ryanair price target is $127.50, implying an upside of 85%. The analyst price target has a high and low forecast of $130 and $125, respectively.
According to S&P and Fitch, the company’s balance sheet game is strong with a BBB rating. This provides stability to the company while it takes on the new challenges of recovery. The lowest fare offerings among its peers make it well-positioned to sustain the uncertainties. Overall, the analysts have a positive outlook on the stock.