Jaina Mistry, an analyst from Jefferies, maintained the Hold rating on Ryanair Holdings. The associated price target remains the same with €23.40.
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Jaina Mistry’s rating is based on a combination of factors that reflect Ryanair Holdings’ current market position and future outlook. The airline has demonstrated a slight increase in passenger numbers, with a 2% growth in August, reaching a record 21 million passengers and maintaining a strong load factor of 96%. This indicates a robust demand for Ryanair’s services.
However, the forecast for fiscal year 2026 aligns with market expectations, projecting 206 million passengers, and the second quarter consensus anticipates a 61 million passenger target. To meet this target, a growth of 1.7% in September is necessary, which is slightly above the current trend indicated by Cirium’s seat capacity data showing a 1.3% increase. These factors suggest steady performance but not enough momentum for a more aggressive rating, leading to the Hold recommendation.