Here's Why Ryanair Stock Flew Higher Today
Shares in Ireland's ultra-low-cost carrier Ryanair Holdings (NASDAQ: RYAAY) popped higher by 8.4% in early morning trading as the market digested an excellent set of fourth-quarter earnings. The earnings were all the more impressive as Wall Street analysts have been lowering earnings estimates for airlines across the board due to soaring jet fuel costs.
It's no secret that jet fuel prices have risen dramatically in response to a combination of rising crude oil prices and a large increase in the jet fuel crack spread (difference between the price of jet fuel and the cost of crude oil) caused by the closure of the Strait of Hormuz.
It's a difficult and uncertain period for airlines, and by way of example, Delta Air Lines recently declined to update its full-year guidance.
Source Fool.com
Ryanair Holdings plc ADR Stock
With 17 Buy predictions and not the single Sell prediction the community is currently very high on Ryanair Holdings plc ADR.
As a result the target price of 62 € shows a slightly positive potential of 12.73% compared to the current price of 55.0 € for Ryanair Holdings plc ADR.
