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IAG soars 4% on the stock market after JP Morgan's report that raises its target price by 72%

MADRID, 6 Mar.

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IAG soars 4% on the stock market after JP Morgan's report that raises its target price by 72%

MADRID, 6 Mar. (EUROPA PRESS) -

The shares of the aeronautical holding company IAG soared more than 4% early this Wednesday on the selective Ibex 35 (4.10% at 9:20 a.m.) after JPMorgan analysts raised their target price by 72%.

The US bank thus lifted the brake activated last December, when it lowered its recommendation on IAG to 'underweight'. Since then, the airline's shares had fallen almost 10%.

Three months after this reduction, JPMorgan considers that the holding company to which Iberia belongs is on the right track and raises its valuation two notches to 'overweight'. Today it was trading at 1.73 euros per share in the early stages of the day

The improvement issued today raises its target price to 2.50 euros per share. This level represents an upward potential of 50% compared to the 1.66 euros with which it started in this Wednesday's session.

It thus joins the consensus of other economic analysts on the airline's stock market prospects. Prior to the US bank, analysts from Santander and Sabadell had also already established a target price of 2.50 euros, while those from Intermoney placed their estimate one step higher, at 2.60 euros per share.