DO&CO Shares Witness Disproportionate Sell-Off Amidst Middle East Conflict, NuWays AG Maintains Buy Rating

Vienna, Austria – March 3, 2026 – Shares of DO&CO AG experienced a significant sell-off on Monday, declining by over 13%, following escalating tensions in the Middle East. However, analysts at NuWays AG maintain a ‘Buy’ rating for the stock, asserting that the market reaction is disproportionate to the company’s actual exposure to the conflict zone.

NuWays AG Analysis: Limited Operational Risk

According to a research note released by NuWays AG, DO&CO’s operational footprint in the Middle East is limited. The company does not operate kitchens in Iran or any directly affected countries, meaning its exposure is primarily indirect, stemming from potential volume impacts on Middle Eastern carriers.

NuWays AG analysts state that short-term disruptions, such as weekend flight cancellations to affected regions, are largely covered under existing contracts with DO&CO. While revenue from cancelled flights will no longer be compensated starting Tuesday, the financial impact is projected to be manageable.

Financial Impact Assessment

NuWays AG estimates that a four-week closure of airspace in the Middle East would reduce DO&CO’s full-year sales by approximately 1% and EBIT by around 2%. Given DO&CO’s group revenue of nearly €2.5 billion, this impact is not considered “thesis-changing,” even if disruptions were to persist for several weeks.

The analysts expect the impact to be temporary, operationally cushionable, and financially sustainable, seeing only a limited risk to medium-term earnings development as long as the disruptions do not significantly expand or prolong.

Price Target Maintained at €266

Despite the recent market volatility, NuWays AG has reaffirmed its €266 price target for DO&CO shares, suggesting the decline presents a potential buying opportunity. The firm believes the sell-off is an overreaction and does not reflect the company’s underlying operational strength and limited direct exposure to the conflict.

Recent Performance & Market Context

As of March 3rd, 2026, DO&CO shares experienced a volume 147% higher than normal trading days. Other Austrian stocks also saw increased trading volume, including CPI Europe AG (310% above normal), OMV (220%), Lenzing (214%), and voestalpine (252%).

Source: boersennews.de