- European indices in mixed mood during Monday's session
- Investors' attention turns to reviewing bank recommendations
- S&P Ratings upgraded Lufthansa (LHA.DE) scoring
Overall market situation:
This week's first session on European markets is proceeding in a mixed atmosphere. Individual companies cannot take a common direction, which also has to do with the small amount of market information. A factor, so to speak, that sustains the slight fluctuations are changes in the recommendation structure of selected German companies.
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European companies listed during Monday's trading session are mostly gaining at the moment (the exception is the fuel sector). Source: xStation 5
The DE30 cannot find direction during this week's first trading session. The instrument is still holding in the 16,400-point zone. The main level of potential resistance may now be the zone of maxima in the area of 16,600 points, and support the zone of 16,000 points. Source: xStation 5
News:
Rheinmetall (RHM.DE) shares are currently gaining more than 0.9% due to an upgraded recommendation on the company's shares from Bank of America. The target price has been set at 410 euros per share. Previously, it was €300.
Source: xStation
Better sentiment is also noticeable on Fraport (FRA.DE) shares, which are currently gaining more than 1.2% due to a raised recommendation on the company's shares by Oddo BHF.
Lufthansa (LHA.DE) was upgraded to investment grade by S&P. Lufthansa's long-term rating was raised to BBB- from BB+. S&P added that the projected higher EBITDA will offset large capital expenditures for new aircraft, and the stable outlook reflects the expectation that economic or geopolitical conditions will not deteriorate unexpectedly or sharply, sustaining demand for air travel and fares. The company's shares are gaining more than 1%.
Analyst recommendation:
* Salzgitter (SZG.DE): Jefferies reiterated a hold rating on the company's shares. Target price set at €30.
* Porsche AG (P911.DE): Bernstein reiterated a neutral rating on the company's stock. Target price set at €90.
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