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Ryanair price target is raised to €5.50

RYANAIR and EasyJet's outlook for yields and returns isn't reflected in their share prices, a HSBC analyst claimed yesterday.

HSBC has raised its price target on Ryanair to €5.50 from €4.30 and re-rated the stock as "overweight". The bank's transport analyst said concerns such as high fuel prices and faltering consumer spending had been "overblown".

Etihad to break even this year, says CEO

ABU Dhabi-based airline Etihad is on target to break even this year and become profitable in 2012, according to its CEO, James Hogan. Revenues last year rose 29pc to just under $3bn (€2.2bn), while passenger numbers climbed 13pc to 7.1m.

Ulster Bank's new chief exec (retail)

ULSTER Bank has appointed Richard Donnan as chief executive, retail markets. Mr Donnan will take over responsibility for running the bank's retail-markets business across the island of Ireland, focused on over 1.9 million customers through the bank's branch network.

Brophy steps in at Connacht Gold

CONNACHT Gold Co-op has appointed Helen Brophy as general manager of its consumer foods business. Currently chief executive of the National Dairy Council, (NDC), Ms Brophy will take up the new position on April 14. She will take over from Mary Fox, who has been appointed general manager, group strategic development.

The money keeps pouring into China

FOREIGN direct investment in China rose 17.4pc in 2010 to $105.7bn (€79bn), the government there said yesterday. This is despite efforts by authorities to cool the booming economy and stem a flood of liquidity. Announcing the year-on-year figure, the commerce ministry said China attracted $14.03bn in foreign direct investment (FDI) last month, up 15.6pc from a year earlier. "The improvement in the investment environment has become a new driving force of China's FDI," it said.

Irish Independent