London, Jan 7, 2026, 09:12 GMT — Regular session
- IAG traded slightly lower near record levels after two broker notes flagged upside
- Morgan Stanley started coverage of IAG’s U.S.-listed ADRs with an Overweight rating
- Investors are positioning ahead of IAG’s Feb. 27 results
Shares in British Airways owner International Consolidated Airlines Group (IAG) were down about 0.2% at 436.1 pence by 0912 GMT, after trading between 434.3 and 438.6 pence in early deals.
The stock is hovering near a 52-week high after a 2.8% jump on Tuesday, when it set a new peak above a prior high hit on Jan. 2. The next major company catalyst is IAG’s full-year 2025 results on Feb. 27.
Morgan Stanley initiated coverage of IAG’s U.S.-listed American depositary receipts (ADRs) — U.S.-traded certificates that represent shares — with an Overweight rating and a $12.70 price target, implying more than 11% upside from the last close. The team led by Axel Stasse said it applies a premium valuation multiple “to reflect the company’s stronger execution and improved balance sheet profile,” using enterprise value to EBITDA — a common cash-profit yardstick — alongside an EV/EBIT multiple. Investing.com Philippines
Bernstein analyst Alex Irving also kept a positive view, lifting his target price to 490 pence from 475 pence and reiterating a Buy rating, according to a MarketScreener summary of the note.
In a separate regulatory statement on Monday, IAG said it held 162.2 million treasury shares, with total voting rights of about 4.565 billion — a figure investors use when calculating disclosure thresholds for shareholdings.
The FTSE 100 was lower on the day, adding a softer backdrop for UK-listed cyclicals even as IAG traded near its highs.
