Shares in travel firm Thomas Cook (TCG) are among the biggest risers on the FTSE All Share this morning as Credit Suisse ups its recommendation from ‘neutral’ to ‘outperform’ and increases its price target from 112p to 160p.
The investment bank says risks to forecasts have diminished and raises its forecasts for the next three years, including 2018, by between 4% and 10%.
Its analysts cite the company’s own self-help actions and an improvement in the backdrop for the UK for the upgrades and note partnership deals with Expedia and hotel investor LMEY underpin its new operating model.
We looked at this model in more depth in this article which you can read here.
Today’s advance, by 5.6% to 133.8p, shows the impact big investment banks can have on the market by expressing their views on a stock.
According to Thomson Reuters eight analysts have a ‘buy’ or ‘outperform’ recommendation on Thomas Cook, five rate it as a ‘hold’, while two are at ‘sell’ or ‘underperform’.
