HALISTER1: Finnair Gains as HSBC Says Buy Stock on Asia Trading Strength

Finnair Gains as HSBC Says Buy Stock on Asia Trading Strength

(Bloomberg) -- Finnair rises as much as 3.6% to EU5.98, the highest since August 2008, after HSBC raises recommendation on stock to buy from hold.
  • Volume on stock 43% of 3-month daily average as of 10:25am in Helsinki
  • HSBC says Asia trading is much stronger than expected, also higher-yielding than North America
    • Analyst Achal Kumar also raises PT to EU6.50 from EU5.25
    • Sees strong 4Q Lapland demand, says comparison period was soft, hence yield “could rather be stronger than expected”
  • NOTE: Finnish govt owns 55.8% of stock in Finnair; float is ~32%
To contact the reporter on this story: Kati Pohjanpalo in Helsinki at kpohjanpalo@bloomberg.net To contact the editors responsible for this story: Tasneem Hanfi Brögger at tbrogger@bloomberg.net Angela Cullen

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
FIA1S FH (Finnair OYJ)

People
Achal Kumar (HSBC Securities Asia Ltd)

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