Credit Suisse continues to trust IAG. The Swiss analyst firm reiterates its advice to 'overweight' and a target price of £ 3.70 (with the title at £ 2.08) after the deal struck with American Express.
"This operation helps to illustrate the value of IAG," acknowledges Credit Suisse in its latest report on the listed Ibex 35. As catalysts for the action, the Swiss points to its July 31 results and, as risks, that it 'burn '200 million euros in cash weekly.
Under the agreements, American Express will make a payment to IAG Loyalty of approximately £ 750m, a significant part of which is a pre-purchase of Avios points that American Express will use in the UK and worldwide. for its co-branded cards with British Airways and its 'Membership Rewards Program'.
IAG Loyalty is a subsidiary of International Airlines Group that offers a wide range of services to IAG airlines and B2B customers. These include the currency of Avios loyalty programs for British Airways Executive Club, Iberia Plus, Aer Club and Vueling Club customers and loyalty management tools.
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