Iag News

The IAG share price will be in focus after Barrons mentioned the company as one to watch as the aviation sector rebounds. The stock ended last week at 180p, which was about 7.5% above the lowest level last week. The case for IAG. IAG share price has bounced back after it declined sharply last year. The shares are more than 100% above the lowest level in 2020. This is mostly because analysts and investors expect that the aviation sector will stage a major recovery later this year. It is against this backdrop that Barrons delivered a relatively hawkish outlook of IAG. In a report during the weekend, the respected publication said the stock could push higher since it is about 60% below its highest level in 2020. The paper cited three main catalysts for the stock. First, they expect that the high vaccination rates between the UK and the US will lead to more demand. Furthermore, the two countries have some of the highest vaccination rates globally. Second, they noted that the company has limited exposure to corporate-level travel, which they see being weak for a few more months. Many companies have adapted to working remotely using Zoom and DocuSign. They are also embracing private jets. Third, Barrons noted that the decision by Norwegian Air Shuttle to suspend the transatlantic trips will benefit IAG. Finally, they cited analysts forecasts that see the firm posting revenue of $23 billion this year. This will be a major improvement from last year’s revenue of more than 6.8 billion pounds. In addition to IAG, analysts at Barrons are excited about Ryanair and Wizz Air Holdings. IAG share price analysis In last week’s IAG share price forecast, I noted that the stock was extremely oversold and that it would soon rebound. That prediction was right as the stock rose by more than 10% last week. Looking at the daily chart, we see that the stock is still below the rising wedge pattern shown in blue. It is also slightly below the 25-day and 50-day exponential moving averages (EMA). In my view, the stock will likely keep rising as bulls target the lower side of the wedge pattern. It will then resume the downward trend as it forms a break and retest pattern. IAG stock chart Follow Crispus on Twitter.

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