AlphaValue/Baader Europe Cuts Price Target for Ryanair on FY27 Capacity Reduction

06:54 AM EDT, 09/23/2026 (MT Newswires) -- AlphaValue/Baader Europe lowered its price target for Ryanair (RYA.IR) to reflect the Irish budget airline's recent pre-winter capacity cuts for fiscal 2027 and its fiscal first-quarter earnings. "While this move will help reduce costs on the unhedged portion of the airline's hedgebook, it nonetheless reflects the carrier's immediate inability to carry out its long-standing expansion strategy during market downturns. However, since its direct competitors (Wizz Air [WIZZ.L] and easyJet [EZJ.L]) have also reduced their capacity, this creates a less intense competitive environment that could facilitate fuel recapture - that is, an increase in airfares," analysts said Tuesday. Accordingly, the research firm reduced its price target by 5.29% to 25.5 euros, while noting that the stock remains the sole add-rated airline in its coverage. The rating is supported by the company's net cash balance sheet, proven low-cost business model, "disciplined" capital allocation and "prudent" fuel hedging strategy.