Panmure upgrades Ryanair to Buy on recent selloff

Panmure Liberum upgraded Ryanair (RYAAY) to Buy from Hold with a price target of EUR 27.50, down from EUR 30. The recent selloff creates a buying opportunity as Ryanair is largely insulated from the Middle East conflict, the analyst tells investors in a research note. The firm believes Ryanair could be the European carrier least impacted by the current war given its minimal exposure to routes to the Middle East or destinations in adjacent countries. In addition, the airline has hedged 80% of its fuel requirements to March of 2027, says Panmure Liberum.