Wizz Air Holdings (WIZZ)

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Share Price:
1,083.00p
Market Cap:
£1,121.07m
Change Today:
3.00p
Sector:
Tourism and Leisure Services

RBC Capital Markets downgrades Wizz Air to 'underperform'

By Michele Maatouk

Date: Friday 10 Jul 2026

LONDON (ShareCast) - (Sharecast News) - RBC Capital Markets downgraded Wizz Air on Friday to 'underperform' from 'sector perform' as it argued that "poor earnings quality may weigh on a hockey stick recovery".
RBC said that on its forecasts, Wizz Air will generate a negative or below peer group return on capital employed/ return on invested capital, and trades above peers on EV-valuation metrics throughout the bank's forecast period.

"This suggests that the market is pricing in more of a 'hockey stick' recovery than we forecast," it said. "We forecast circa 6-7% EBIT margins by FY30E, (which would be typical for European airlines in CY26 and on our outer year forecasts), although below company ambitions, which we think are to return to double-digit percentage margins, delivered pre-pandemic."

RBC also said it doesn't expect recent declines in fuel to translate into near-term upgrades.

"We cut our FY27E-FY28E forecasts below consensus even on reflecting a lower fuel price versus our last update (as we trim unit revenues/ increase ex-fuel unit costs)," it said.

"We allow for higher fuel costs than consensus in 1Q, think RASK [revenue per available seat kilometre] decline could be a risk beyond 1Q given still-elevated capacity growth and note a tough comp for ex-fuel unit costs in 4Q, given the timing of other income over FY26."

The bank kept its price target on Wizz at 900p, implying around 20% downside.

At 1002 BST, the shares were flat at 1,172.96p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

WIZZ Market Data

Currency UK Pounds
Price 1,083.00p
Change Today 3.00p
52 Week High 1,447.00p
52 Week Low 849.50p
Volume 91,511
Shares Issued 103.52m
Market Cap £1,121.07m

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