Ryanair's target share price has been increased after it was claimed there is plenty of room for the airline to expand.
Analyst Stephen Furlong from Davy Stockbrokers expects stocks in the firm to hit €7 (£5.96) and reaffirmed his 'outperform' rating for the company.
According to a report by the Irish Independent, Ryanair's share price was up by four per cent on Tuesday (March 19th) after the airline announced it has agreed to buy 175 aircraft from Boeing.
Goodbody analyst Donal O'Neill said: "Ryanair will grow just three to five per cent out to 2015 with flexibility to scale up or down dependent on the environment."
Davy predicts Ryanair's share of the market could grow to as high as 20 per cent in the near future.
Fellow budget airline EasyJet was a recent arrival on the FTSE 100 and the firm's chief executive Carolyn McCall stated she is confident the company will be able to go from strength to strength.
Learn about the sterling and forex trading at City Index.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.