In this period when the aviation industry had great expectations in the stock market, another positive news about the industry came from the credit rating agency S&P. Standard and Poors announced that Pegasus Airlines has upgraded its credit rating. In the statement made by PGSUS to the Public Disclosure Platform following the decision of S&P, “The international credit rating agency S&P Global Ratings (“S&P”) upgraded our Company’s long-term credit rating from B (stable outlook) to B+ (negative outlook). In line with this decision, S&P raised the long-term credit rating of bonds issued abroad, subject to our Company’s material disclosure dated 19.04.2021, from B to B+.
In the traffic report released last week, Pegasus announced that the number of passengers increased by 35 percent on an annual basis in April. The company reported a profit of 598 million TL in the first quarter of this year. In the same period last year, the company had a loss of around 1 billion TL.
PGSUS share review
After these financial results, 6 brokerage houses announced their PGSUS share analysis and announced that they kept them in their model portfolios. The target prices of these 6 brokerage houses (Ak Yatırım, Deniz Yatırım, ICBC Investment, Noor CM, Şeker Yatırım, Yatırım Finansman Menkul Değerler) for the PGSUS share price average 684.60 TL, the lowest target price prediction is 582 TL (Noor CM), the highest 840 TL (Ak Investment).
Pegasus stocks rose from 83 TL per share in March 2022 to 557 TL in January 2023. However, the profit sales from this date have reduced the stock to 413 TL as of yesterday.
The 6 brokerage houses that have included PGSUS shares in their model portfolio estimate a potential premium of 65 percent for Pegasus from the current price, based on the average target price forecast.
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