Lufthansa Cuts 2026 Profit Target on Kerosene Bill, Then Wins Over Two Brokers
Published on 11/08/2026 at 19:11 | Editorial boerse-global.de
Lufthansa has trimmed its full-year 2026 earnings guidance to a range of EUR 1.7 billion to EUR 2.0 billion, with the carrier pointing to elevated fuel costs as the reason for the reduction. The group now expects to spend EUR 9.3 billion on fuel across the year.
That headwind was already visible in the third quarter, when the fuel bill came in EUR 543 million higher than a year earlier. Even so, the airline managed to lift its adjusted operating result to EUR 1.4 billion, a gain of six percent year on year. Revenue for the quarter reached EUR 12.2 billion, up nine percent. According to media reports, the adjusted EBIT beat analyst expectations, helped by resilient demand and cost discipline.
Two Brokers Move, One Changes Its Rating
Friday brought a pair of analyst revisions. Barclays upgraded the stock from "Underweight" to "Equal Weight" and lifted its price target from EUR 7.50 to EUR 8.40. Analyst Andrew Lobbenberg, as reported by dpa-AFX, tied the call to falling fuel costs in the wake of the US midterm elections, which he also sees as potentially supportive of demand.
Bernstein took a narrower step, raising its target from EUR 9.00 to EUR 9.50 while keeping its "Market Perform" rating. The distinction between the two actions: only Barclays changed its investment verdict alongside the target.
Should investors sell immediately? Or is it worth buying Lufthansa?
Shares in the airline rose 3.9% on Friday. No link between that session's move and the quarterly figures — which had already been published on Tuesday — has been established. Media reports cited the analyst upgrades and lower oil and kerosene prices as possible drivers.
TAP Stake Signed, Pending Brussels
On Tuesday, Lufthansa and the Portuguese government put pen to paper on the purchase of an initial minority stake in TAP Air Portugal. The deal covers 44.9% at a purchase price of EUR 1.02 billion, funded from available liquidity. Completion remains conditional on regulatory approvals, above all from the European Commission — signing the contract does not close the acquisition.
A second operational announcement arrived on Friday from SWISS, which plans to deploy Airbus A350 aircraft on the Zurich–Mumbai route from 15 December 2026. The service has been announced but not yet launched.
Lufthansa at a turning point? This analysis reveals what investors need to know now.
With the kerosene bill still the dominant swing factor in the group's earnings trajectory, fuel prices look set to remain the metric to watch.
Ad
Lufthansa Stock: New Analysis - 8 November
Fresh Lufthansa information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
