Lufthansa downgraded to Market Perform from Outperform at Bernstein

Bernstein analyst Alex Irving downgraded Lufthansa (DLAKY) to Market Perform from Outperform with an unchanged price target of EUR 7.50. Demand looks “basically fine” for European airlines, but at current levels the firm views the opportunity in Lufthansa as “less compelling than before” and downgrades the shares on valuation, the analyst tells investors in a Q2 preview for the group.