Ryanair price target raised to $62 from $55 at Bernstein

Bernstein raised the firm’s price target on Ryanair (RYAAY) to $62 from $55 and keeps an Outperform rating on the shares. The firm notes Ryanair has come of age as a cash return story, following up last year’s EUR 1.5B buyback with another EUR 750M in the next 12 months, even as it terms out EUR 2B of debt. It has also put last year’s OTA disruption firmly behind it, guiding to mid-teens fare growth in Q1 and mid-single digit growth in Q2.