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Article: British Airways climbs steeply as Goldman Sachs says get aboard ; MARKET ROUND-UP
- Article from:
- The Evening Standard (London, England)
- Article date:
- September 17, 2009
- Author:
CopyrightCopyright 2009 Evening Standard - London. Provided by ProQuest LLC. (Hide copyright information)
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STAND by for take off at British Airways was the advice Goldman
Sachs gave to clients today as it added the shares to its
influential Conviction Buy list.
The shares responded with a jump of 8.7p to 236.1p, making them
one of the best performers among the top. They have come up from a
low of 188p since July and, according to the American broking house,
there is scope for a further 45% improvement in the price. Goldman
says the recovery is under way and will be achieved by further cost
savings and effective hedging against fuel price rises. Margins will
also improve more rapidly than the other national carriers largely
due to its exposure to the lucrative North Atlantic routes, the
broker ...
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