Lufthansa Wins Back Broker Support After Quarterly Beat, Even With a Lower Profit Ceiling
Published on 11/09/2026 at 06:31 | Editorial boerse-global.de
Lufthansa shares closed Friday at €8.40, up 3.9%, as a stronger-than-expected third quarter and a pair of broker moves outweighed the group's trimmed full-year profit target. The advance came roughly a week after the company pulled back its earnings guidance, leaving solid operating numbers and a more cautious outlook side by side.
Cost discipline offsets a heavier fuel bill
The airline reported on 3 November adjusted operating profit of €1.4 billion for the third quarter of 2026, a 6% increase, on revenue of €12.2 billion. Group net income reached €1.3 billion. Management credited robust demand and cost discipline with more than absorbing higher fuel costs.
Even so, Lufthansa cut its guidance for full-year 2026 adjusted operating profit to a range of €1.7 billion to €2.0 billion.
Two brokers shift their stance
Analyst action on Friday gave the stock additional lift. Barclays upgraded Lufthansa from "Underweight" to "Equal Weight" and lifted its price target from €7.50 to €8.40. Bernstein raised its target from €9.00 to €9.50 while keeping its "Market-Perform" rating unchanged.
Should investors sell immediately? Or is it worth buying Lufthansa?
At Bernstein, analyst Alex Irving tied the increase to the third-quarter beat. He also flagged higher fuel costs and ambitious expectations for ticket prices in the final quarter as risks. Market reports suggested the Barclays re-rating may have contributed to the share price gain as well.
Cheaper kerosene lends a hand
Lower oil and jet fuel prices were cited in media reports as a further support for Friday's rise, alongside the friendlier analyst assessments. The stock's move came on the last trading day of the week.
TAP stake still awaits regulatory clearance
Beyond the quarterly numbers, Lufthansa signed an agreement with the Portuguese government about a week earlier to acquire an initial 44.9% of TAP Air Portugal for €1.02 billion. Completion depends on regulatory approvals, including clearance from the European Commission. Lufthansa put the maximum total purchase price, including the contractual ticking fee, at up to €1.2 billion.
Lufthansa at a turning point? This analysis reveals what investors need to know now.
A board member buys in
A mandatory disclosure published Friday showed a share purchase by a supervisory board member. Dr. Astrid Stange bought Lufthansa shares on Thursday with an aggregate volume of €153,759.
The next scheduled corporate report is the 2026 annual report, due for publication on 5 March 2027.
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