Bernstein SocGen Group analyst Alex Irving lowered the price target on Ryanair (NASDAQ: RYAAY) to $77.00 (from $78.00) while maintaining an Outperform rating.

The analyst commented: "Ryanair has been the most reliable airline business in Europe, probably the world, for the last three decades. The recent sell-off in shares provides investors with a fantastic entry point as the business buckles in for EPS to grow by >50% from €1.86 this year to around €3 by the end of the decade. For the stock to fall meaningfully from here, we would see the industry as needing to simultaneously see both fuel prices remaining elevated and high rates of capacity expansion: an outcome we see as unlikely. With capacity reductions likely skewing higher on narrowbody point-to-point, Ryanair is primed to capitalize."