Wizz Air upgraded by Goldman

Goldman Sachs has upgraded its investment rating on Wizz Air (LON:WIZZ) to 'buy' from 'neutral', stating that the derating post the Brexit referendum has created an attractive entry point.

The City heavyweight commented: "We see Wizz as very well positioned to continue growing profitably in CEE capitalizing on: (1) a solid CEE macro environment (3% route-weighted 2017E GDP growth vs. 2% for other EU airlines), (2) low CEE air travel penetration, and (3) market share gain from poorly positioned local carriers."

Analysts have increased their price target to 2,100 pence per share (from 1,753 pence).

At 2:20pm: (LON:WIZZ) Wizz Air Holdings Plc share price was +54p at 1730p