Ryanair cut to reduce by ABN Amro, CEO sells stake (RYAAY, UK:RYA) By Kabir Chibber

LONDON (MarketWatch) -- Irish low-cost airline Ryanair PLC (RYAAY) (UK:RYA) has been cut to reduce from add by ABN Amro, which said Ryanair`s fourth-quarter performance ``blasted`` through the market`s expectations and the ``good news looks priced in.`` The broker raised its target price to 6.30 euros from 6.20 euros. Shares in the airline were down 1.7% in morning London trade. Earlier, Irish stockbroker Davy was reported to be placing 6 million shares on behalf of Ryanair CEO Michael O`Leary. In its note, ABN Amro said O`Leary has sold stakes following results ``at times when the stock is trading relatively strongly`` and would not be surprised to see him do it this time.