What is with the IAG share price? The International Consolidated Airlines Group reacted to yesterday’s positive first-half results by rising 8pc, before calming down to 2pc.
The news was good. Revenue for the first six months rose to €15.9bn, while operating profit reached €1.88bn with a 43.5pc increase. Margins improved from 8.9pc to 11.8pc, attributed to effective cost control and ongoing transformation efforts.
But despite strong performance, the company did not raise full-year forecasts, leading to some investor hesitance. The shares ended up DOWN 2pc at the end of the day.
Analysts have a median 12-month share price target of 407p, indicating potential for modest growth.
