JAL, JP3705200008

Jefferies cuts target for Japan Airlines stock to JPY 3,800

Published on 10/05/2026 at 12:20 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 11.20 percent to JPY 523.737 billion in the first quarter. Japan Airlines stock costs EUR 16.95 on October 5, 2026 versus EUR 17.00.

JAL, JP3705200008, Illustration mit AI erstellt.

Jefferies cut its target for Japan Airlines stock from JPY 4,000 to JPY 3,800 in a September 30, 2026 note while retaining its Buy rating, according to TradingView. The revision puts fuel costs at the center of the airline's near-term earnings debate.

Fuel costs reshape the target

Jefferies lowered its fiscal-year EBIT estimate to JPY 171.3 billion from JPY 184.9 billion, below Japan Airlines' JPY 180.0 billion company guidance, as higher fuel assumptions weighed on the model, TradingView reported on September 30, 2026.

The same note described Japan Airlines as more exposed to higher oil prices than ANA Holdings but said its stronger balance sheet and diversified earnings mix supported a longer-term preference. That combination creates a clear trade-off: operating profit is under pressure in the forecast, while the business mix provides support beyond the core airline operation.

First-quarter profit fell sharply

For the first quarter of fiscal 2027, covering April through June 2026, revenue reached JPY 523.737 billion, up 11.20 percent from the prior year, while EBIT fell 72.10 percent to JPY 12.703 billion, according to Note on October 1, 2026.

Quarterly profit attributable to owners of the parent fell 80.20 percent to JPY 5.353 billion. The contrast between double-digit revenue growth and the steep EBIT decline makes fuel, capacity costs and operating leverage more important than passenger demand alone.

Next results arrive in November

Japan Airlines is scheduled to report its next earnings on November 2, 2026, according to InvestPane. That release should show whether the revenue expansion is translating into a recovery in operating profit after the weak first quarter.

On the Tokyo Stock Exchange, Japan Airlines was last at JPY 3,011 on October 5, 2026 at 3:30 p.m. JST. The stock's 52-week range was JPY 2,205.00 to JPY 3,272.00, while market capitalization stood at JPY 1.3 trillion on the same date.

Japan Airlines price in euros

Japan Airlines was trading at EUR 16.95 at Lang & Schwarz on October 5, 2026 at 12:12 p.m. CEST, down 0.29 percent versus the prior close of EUR 17.00 on October 2, 2026. The move is below the threshold for a directional market signal, leaving the analyst target revision and the November results date as the key measurable reference points.