Research Disclosures & Disclaimers

This website contains disclosures and disclaimers related to
published UBS Global Research products, including those related to
regulation, potential conflicts of interest as well as those provided
by third-party data providers describing limitations on use of their
products.

Air France - KLM (AIRF.PA)

UBS Rating and Price Target History Chart

Line chart explaining Price target vs Stock Price is described in below table

EQ Rating & Price Target Table

Date	Stock Price (€)	Price Target (€)	Rating
2021-01-22	23.70	22.443	Neutral
2021-01-26	23.91	20.93	Neutral
2021-03-15	26.42	21.939	Neutral
2021-08-03	20.09	23.20	Neutral
2021-10-13	20.28	22.696	Neutral
2022-01-05	21.78	20.678	Neutral
2022-02-21	20.31	21.00	Neutral
2022-06-06	17.23	19.00	Neutral
2022-08-09	14.87	18.50	Neutral
2022-10-07	13.10	17.00	Neutral
2022-10-31	13.32	17.50	Neutral
2023-01-13	15.04	20.00	Buy
2023-02-21	16.96	22.00	Buy
2023-05-08	14.60	24.00	Buy
2023-07-31	15.71	25.00	Buy
2023-10-09	11.41	23.00	Buy
2023-10-28	11.04	21.00	Buy
2023-12-19	13.84	23.00	Buy
2024-01-15	12.03	21.50	Buy
2024-03-04	9.83	19.60	Buy

Disclosures

UBS beneficially owned 1% or more of a class of this company`s common equity securities as of last month`s end (or the prior month`s end if this report is dated less than 10 days after the most recent month`s end).
Because this security exhibits higher-than-average volatility, the FSR has been set at 15% above the MRA for a Buy rating, and at -15% below the MRA for a Sell rating (compared with 6/-6% under the normal rating system).

Note : Historical Price Targets have been adjusted to account for any stock splits, rights issues and/or dividends which may have occurred for this security. Not Priced: Stock was not priced on the given date. No Rating: Issuer was not rated by UBS on the given day. No Price Target: For this issuer no Price Target was set by UBS on the given day.