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Article: British Airways climbs steeply as Goldman Sachs says get aboard [Edition 2]
- 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 its clients today as it added the shares to its
influential Conviction Buy list.
BA shares responded with a jump of 11.4p to 239.9p, making them
one of the best performers among the top 100 companies. 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 if the revenue recovery starts on a restructured cost basis.
Goldman has raised its six-month price target from 165p to 315p.
It says the revenue recovery is under way and will be achieved by
further cost savings and effective hedging against fuel price rises.
Margins ...