LHA.F is trading 7% down at $9.32 today after Citi downgraded Lufthansa to Sell from Neutral, trimming its target price to €8.70 from €8.20.
- Citi analyst Conor Dwyer noted that Lufthansa's valuation "appears less compelling following the recent rally".
- This downgrade comes despite the stock being up more than 20% year-to-date, while consensus earnings expectations have drifted lower.