Citigroup upgrades Getlink to 'buy' on 'structural growth opportunities'
** Citigroup upgrades Channel tunnel operator Getlink GETP.PA to "buy" from "hold", saying it sees "structural growth opportunities" for the Channel rail segment
** Increasing airport tariffs and regulations have led to a modal shift from air to rail in short-haul travel, the broker notes
** The group announced last a 23% drop in sales in Q1 in line with consensus, citing the normalisation of electricity market and competition from ferries
** "We expect Getlink to gain market share in the medium-term", says Citigroup, noting a stabilisation of competition in the shuttle segment and higher ferry costs
** Out of 15 analysts that cover Getlink SE, seven rate the stock "strong buy" or "buy", seven rate "hold" and one rates "sell"
Reporting by Dimitri Rhodes
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