Lufthansa Lifts 2026 Profit Floor Even as Barclays Sees More Room to Run

Published on 11/11/2026 at 17:22 | Editorial boerse-global.de

Lufthansa posts record Q3 revenue of EUR 12.2 billion and adjusted EBIT of EUR 1.4 billion as Barclays raises its price target to EUR 8.40.

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Lufthansa's third-quarter scorecard landed alongside a fresh broker upgrade this week, giving investors two reasons to look past a trimmed profit ceiling. Barclays raised its price target on the German carrier from EUR 7.50 to EUR 8.40, pointing to cheaper jet fuel and expectations of firmer demand. The stock responded with a 1.0% advance on the day of the results.

Record Revenue Meets a Narrower Range

For the three months to September, the Lufthansa Group posted revenue of EUR 12.2 billion — a quarterly record and a 9% increase on the prior-year period. Adjusted operating profit reached EUR 1.4 billion, up 6% year on year.

The group also sharpened its guidance for 2026, setting adjusted EBIT at EUR 1.7 billion to EUR 2.0 billion. That marks a reduction from earlier expectations of up to EUR 2.2 billion for the full year, a revision announced on 3 November.

Should investors sell immediately? Or is it worth buying Lufthansa?

Oil Prices Provide a Tailwind

Falling crude prices lent support to European airline stocks, with Reuters attributing the sector's gains to the softer oil price. The move followed remarks by US President Donald Trump playing down the need for military action against Iran at that point. Cheaper fuel matters directly to carriers' cost bases, and Barclays cited declining fuel costs among the reasons for its more bullish stance.

TAP Stake Signed, Subject to Approval

Roughly a week ago, Lufthansa and the Portuguese government signed an agreement covering an initial 44.9% stake in TAP Air Portugal, with a purchase price of EUR 1.02 billion. Completion remains conditional on regulatory clearances, most notably the green light from the European Commission.

Cargo Unit Closes LUG Deal

Separately, Lufthansa Cargo completed its acquisition of 100% of LUG aircargo handling GmbH from the Dettmer Group on 2 November. Antitrust approvals were already in hand, and LUG will continue to operate as a standalone company and brand.

Lufthansa Stock: New Analysis - 11 November

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