JP Morgan ups ADP, names it top pick in European Airports; downgrades Aena
** JP Morgan upgrades France airport operator Aeroports de Paris ADP.PA to "overweight" from "neutral"; changes top pick in European Airports Space to ADP from Spain's Aena AENA.MC
** Brokerage notes contrasting share price performances YTD with ADP down -5% and Aena +22%, leaving ADP with 25% upside to its PT and Aena 5%
** "Investors have priced in a worst scenario for ADP on tax", JP Morgan adds, saying that they did so as a response to "political uncertainty in France and fears of tax rises"
** The broker also sees traffic between Paris and China as a source of further recovery for ADP as it stands now at around half of pre-COVID levels
** On the other hand, JP Morgan downgraded Aena to "neutral" from "overweight" as the Spanish airport operator's strong performance YTD has eroded much of the upside in its share price
** JP Morgan maintains "neutral" rating for Fraport FRAG.DE on uncertainty over German airport operator's traffic and tariffs in 2025 as Lufthansa's capacity issues have been a drag on traffic at Frankfurt
Reporting by Tiago Brandao
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
