05:59 AM EDT, 05/19/2026 (MT Newswires) -- Ryanair's (RYA.IR) price target dropped as RBC Capital Markets reduced its forecasts for the Irish budget airline's earnings after fiscal 2026 results.

"We cut EBIT forecasts by ~16% on average over FY27E-FY29E on fuel costs ~2% higher on average and revenues ~2% lower,"analysts said Tuesday. "We assume upside to Ryanair's guidance of mid-single-digit % unit cost increase in FY26E. We forecast further margin dilution in FY28E (on fuel, given the lack of protection from pre-war hedges), although robust improvement over FY29E-FY30E."

The research firm's forecasts represent the lower end of consensus over 2027 to 2028. Additionally, analysts agreed with Ryanair that persistently high oil prices will likely lead to reductions in competitor capacity and further failures.

The price target declined to 29 euros from 31 euros, with an outperform rating.