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Investing.com - UBS downgraded SSP Group Plc. (LON:SSPG) (OTC:SSPPF) from Neutral to Sell while slightly raising its price target to GBP1.70 from GBP1.65.
The downgrade comes despite SSP Group’s share price rising approximately 12% since the company’s first-half results presentation in May, partly due to positive market reaction to the recent pricing of the group’s Indian IPO.
UBS Evidence Lab data indicates a decline in airline capacity growth in the third quarter, with industry data showing a further significant reduction in capacity growth expected in the fourth quarter.
The investment bank cited downside risk to consensus estimates, with its fiscal year 2026 EBIT and EPS forecasts now 7% and 10% below consensus respectively, combined with concerns about a stronger British pound.
SSP Group is scheduled to report its third-quarter revenue on July 29, according to UBS.
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