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Investing.com - CLSA initiated coverage on Virgin Australia Holdings Ltd (ASX:VGN) with an outperform rating and a price target of AUD3.24, according to a research note released Tuesday.
The research firm highlighted Virgin Australia’s successful turnaround since entering administration, noting that the airline now positions its offering between Qantas and Jetstar in the Australian aviation market.
CLSA pointed to rational domestic competition as a key factor supporting the airline’s earnings growth, but indicated that the "true benefits" of the turnaround would likely materialize in fiscal year 2026.
The firm emphasized Bain Capital’s significant ownership stake in Virgin Australia following its initial public offering as a crucial factor, with analysis suggesting Bain typically maintains substantial ownership for an average of three years after taking companies public.
CLSA also noted that Bain’s previous IPOs have generally performed well across various time horizons, supporting the positive outlook for Virgin Australia shares.
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