UBS Cuts SSP Target, Shares Drop 6%

UBS downgraded SSP Group to neutral, cutting 12‑month price target to 180p from 245p, prompting >6% share decline.
UBS raised SSP’s WACC to 10.6% (from 9.5%) and equity risk premium by 150bps, citing higher uncertainty and weaker aviation capacity data.
FY2026 EBIT forecast trimmed to £241m, EPS to 13.8p, free cash flow to £88m, all below consensus and company targets.
Forward capacity growth slows across regions, with Europe at 0.6%, India negative 3.4%, and Australia 0.7% for April 2026.