Morgan Stanley analyst Axel Stasse downgraded Lufthansa (DLAKY) to Equal Weight from Overweight with a price target of EUR 7.50, down from EUR 9.40. Lufthansa’s fuel hedging remains less attractive than peers, says the analyst, who lowered the firm’s 2026 EBITDA estimates. The firm updated estimates across its European airlines coverage to account for the jet fuel forward curve.
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