JPMorgan upgraded Air France-KLM to Overweight from Underweight with a price target of EUR 12, up from EUR 8.60. The firm sees a buying opportunity into winter for the European airlines sector. The sector has started to inflect upwards over the past month but remains a large underperformer versus the market this year, the analyst tells investors in a research note. JPMorgan sees a potential inflection in earnings momentum into 2025 for Air France-KLM.
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