Goldman Sachs analyst Patrick Creuset has maintained their neutral stance on RYA stock, giving a Hold rating on September 2.
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Patrick Creuset has given his Hold rating due to a combination of factors that have influenced the outlook for Ryanair Holdings. Initially, the expectation was that Ryanair’s stock would benefit from an increase in earnings per share (EPS) for the fiscal year 2026, primarily because of a more significant negative impact from online travel agencies (OTAs) in fiscal year 2025 than what the market had anticipated. Additionally, there was an expectation of a price-to-earnings (PE) ratio re-rating as ownership restrictions were lifted.
However, these anticipated catalysts have largely materialized, and the earnings outlook has become slightly less optimistic compared to market consensus. As a result, the potential for Ryanair’s stock to outperform its sector peers has diminished. Consequently, Patrick Creuset has adjusted the rating from Buy to Neutral, reflecting a more cautious stance on the stock’s future performance.
In another report released on September 2, Jefferies also maintained a Hold rating on the stock with a €23.40 price target.

