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FTSE 250 movers: Trainline boosted by upgrade; airlines retreat
(Sharecast News) - London's FTSE 250 was up 0.5% at 16,873.46 in afternoon trade on Friday. Digital 9 Infrastructure surged as it said that it is assessing a potential divestment of its entire stake in Verne Global.
Trainline chugged higher as JPMorgan Cazenove lifted the shares to 'overweight' from 'neutral' and upped the price target to 300p from 295p, pointing in part to an attractive valuation.
The bank noted that Trainline shares have de-rated relative to classifieds peers, likely driven by investor concerns on the complexity around changes in UK rail regulation, which overshadows strong passenger momentum.
"In this note, we assess potential outcomes from the UK rail reform and conclude limited financial impact, even on (we believe) highly cautious scenarios, with a £8m EBITDA loss potential overall (circa 6% of group adjusted EBITDA FY26E).
"Meanwhile, we flag upside risk from 1) rapidly rising online share in the UK with Trainline the key beneficiary, and 2) increasing carrier fragmentation in Europe driving online ticket sales momentum."
JPM said its 2025/26 EBITDA estimates are 6%/8% ahead of Bloomberg consensus on high visibility, low macro exposure, and an attractive valuation.
Airlines easyJet and Wizz Air both flew lower in tandem with BA and Iberia owner IAG, after its third-quarter results.
FTSE 250 - Risers
Digital 9 Infrastructure NPV (DGI9) 40.00p 9.59% Trainline (TRN) 250.20p 8.22% Mobico Group (MCG) 62.70p 5.82% Essentra (ESNT) 150.80p 5.01% NCC Group (NCC) 104.60p 4.18% Centamin (DI) (CEY) 81.15p 3.84% Hammerson (HMSO) 21.68p 3.73% Great Portland Estates (GPE) 383.40p 3.06% Moonpig Group (MOON) 159.10p 2.98% Rathbones Group (RAT) 1,500.00p 2.88%
FTSE 250 - Fallers
CAB Payments Holdings (CABP) 50.15p -3.56% C&C Group (CDI) (CCR) 131.80p -1.93% Virgin Money UK (VMUK) 146.95p -1.77% Foresight Group Holdings Limited NPV (FSG) 336.00p -1.75% Renishaw (RSW) 2,924.00p -1.55% Oxford Instruments (OXIG) 1,724.00p -1.37% easyJet (EZJ) 362.60p -1.23% Worldwide Healthcare Trust (WWH) 290.00p -1.19% Wizz Air Holdings (WIZZ) 1,552.00p -1.15% NextEnergy Solar Fund Limited Red (NESF) 82.00p -1.09%
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