Ryanair upped at J.P. Morgan on Boeing order (UK:RYA, RYAAY, BA) By Aude Lagorce

LONDON (MarketWatch) -- J.P. Morgan upgraded Irish low-cost airline Ryanair Holdings (UK:RYA) (RYAAY) to ``overweight`` from ``neutral,`` citing the carrier`s recent Boeing (BA) order as a key catalyst. The broker told clients it believes that Ryanair is undervalued for the strength of earnings growth that it forecasts, but said the Boeing deal provides ``a new level of shareholder value.`` J.P. Morgan said it thinks Ryanair now has price commitments on more than 300 new Boeing aircraft, ``which are well below the open market price of the planes.`` Shares of Ryanair were last down 0.8 percent in London.