Jefferies analyst Jaina Mistry maintained a Sell rating on Wizz Air Holdings (WIZZ – Research Report) today and set a price target of £10.70.
Jaina Mistry’s rating is based on the recent passenger data released by Wizz Air Holdings, which indicates only a modest increase in passenger numbers and load factors for February. The company reported a 5.1% rise in passengers to 4.6 million and a 1.8 percentage point increase in load factors to 91.8% year-on-year. However, to meet market expectations, a more significant growth of 8.2% in passengers is required for March.
The industry is also facing potential challenges due to Easter-related disruptions in March, which could slightly affect the company’s ability to meet its passenger growth targets. Although the impact on the top line is expected to be less than 0.5%, it could still influence market sentiment negatively. Despite an increase in seat capacity from February to March, the overall outlook remains cautious, prompting the Sell rating.