Pareto Securities analysts Marcus Gavelli and Phillihp Bjerke wrote in a research note Tuesday that Norwegian Air Shuttle’s acquisition of Nordic Leisure Travel Group is both strategically sound and accretive to earnings, though they said the market’s initial negative reaction is understandable given that synergies remain some way out. “We would argue most of them look like fairly low-hanging fruit, particularly on the cost side, with meaningful commercial upside on top,” the analysts wrote. Pareto raised its share target price to 19 Norwegian kroner from 18 kroner and reiterated a buy rating. Norwegian’s shares fell 1.4% to 15.42 kroner on Tuesday. The analysts said the shares offer re-rating potential as NLTG’s hotels become a larger part of group earnings, and called Norwegian’s current valuation an attractive entry point for investors with a longer view.
JPMorgan analysts Jose M. Asumendi and Piyush Singla said Continental AG could deliver a second-quarter margin at the upper end of its 11%–12.5% full-year guidance range. “The margin should be supported by strong pricing and mix in the quarter, more than offsetting the negative impact from inflation and volume decline,” they wrote. The bank projects a seasonally stronger second quarter compared with the first, with tire margins at 15% and ContiTech at 8%. “The focus during the results will be the signing of the already announced plans to dispose of the ContiTech division as well as the potential distribution of the proceeds in FY26,” the analysts said. JPMorgan rates Continental stock at overweight with a price target of 78 euros. The stock closed at 73.46 euros.
Maybank Securities’ Ronalyn Joyce Lalimo said Cebu Air’s earnings are likely to rebound next year after an expected loss this year. Improving travel demand visibility and easing fuel risks prompted the brokerage to lift its 2027 Ebitdar forecast for the airline by 6%, even as it sees a net loss of 1.6 billion Philippine pesos for 2026. The Philippine airline’s seat load factor should improve to 83% in 2027 from 81% in 2026, according to Lalimo, thanks to a better demand-supply balance and continued revenue optimization. Maybank raised the stock’s target price to 50 pesos from 42 pesos to reflect a valuation roll-forward, with an unchanged buy rating. Shares are 1.15% lower at 30 pesos.
Daiwa analyst Kelvin Lau upgraded Geely Automobile to buy from hold and raised its target price to 27 Hong Kong dollars from HK$23.70. Lau said Geely’s overseas markets will become the core growth driver between 2026 and 2030, with overseas expansion likely to boost margins. The Chinese automaker is experiencing strong export momentum, shipping 1.18 million vehicles in the first five months of the year. Geely has strategically focused on five key overseas markets: the European Union, Eastern Europe, ASEAN, Latin America and Africa, and the Middle East. The oil price surge driven by the Middle East conflict will reshape global automobile consumer preferences, Lau added. Shares last traded at HK$17.80.
Maybank IB analyst Yin Shao Yang said AirAsia X’s second-quarter results are expected to be weak due to elevated jet fuel prices, though the worst may be over if fuel costs stabilize. He forecasts a second-quarter core net loss of 150 million ringgit–200 million ringgit. The airline is more optimistic about the second half of the year, with lower fuel prices and capacity recovery potentially returning it to profit in the third quarter, Yin wrote. The company is also working to reinstate fuel hedging lines with banks, he added. AirAsia X still believes 2026 will remain profitable, but Yin is more conservative and forecasts a core net loss of 188 million ringgit for the year. Maybank maintains a buy rating on AirAsia X and keeps its target price at 1.81 ringgit. Shares are 2.3% higher at 1.32 ringgit.
DBS Group Research’s Zheng Feng Chee said ComfortDelGro’s earnings may benefit from a less-bearish U.K. public transport outlook and higher margins at subsidiary Vicom. “Margin compression at ComfortDelGro’s operations in U.K. public transport is likely to be less severe than initial expectations, underpinned by factors including a more moderate inflation outlook,” Chee wrote in a research report. Vicom should benefit from a higher mix of high-margin on-board-unit installations by Malaysian vehicles ahead of Singapore’s new Electronic Road Pricing system set to take effect Jan. 1, 2027. DBS raised the stock’s rating to hold from fully valued and the target price to 1.30 Singapore dollars from S$1.11. Shares are 0.8% higher at S$1.31.
Two sets of analysts weighed in on Qantas. Morgan Stanley analysts said they see potential for the market to re-rate the carrier’s international business as it delivers on the promise of its ultra long-haul project. According to a note to clients, Qantas’s latest presentation on its plan to fly nonstop between Australia and destinations in Europe and the U.S. made the analysts more confident. They said consumers will be receptive to paying between 15% and 20% more for a ticket in order to cut three to four hours from their journeys, and that the premiumization of the aircraft should support demand. Morgan Stanley rates the stock at overweight with a target price of 10.60 Australian dollars.
UBS analysts, meanwhile, said Qantas’s ultra long-haul project is unlikely to be matched by global competitors. “While Australia and New Zealand’s geography justify a scaled ultra long-haul fleet, Qantas’s northern hemisphere peers don’t appear to have sufficient use cases to warrant the investment,” they wrote. The analysts questioned whether Qantas is being too optimistic about the per-seat revenue benefit of flying nonstop, but said the market is cautiously optimistic about the initiative. UBS is waiting for details on the carrier’s full international fleet strategy, likely in August. UBS has an unchanged buy rating and a target price of 11.15 Australian dollars. Qantas shares were at A$10.09 ahead of market open.