Deutsche Lufthansa AG

LHA: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	b.M	LOCK\|c^P	LOCK\|FBxltr

Lufthansa: Initiating Coverage With No-Moat and FVE of EUR 6.5 Supported by Cost Rationalization

Loredana Muharremi

Aug 12, 2024

We Initiate coverage of Lufthansa with a no-moat rating and a fair value estimate of EUR 6.5, supported by robust travel demand, gradual capacity recovery, and enhanced operational efficiency, leading to improved profitability compared with average prepandemic levels.

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Deutsche Lufthansa AG

Lufthansa: Initiating Coverage With No-Moat and FVE of EUR 6.5 Supported by Cost Rationalization

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