IAG share price has been among the top bullish entities in the FTSE 100 index since the beginning of 2023. The stock has gained more than 35% in its year-to-date price amid hopes of better-than-expected 2023 revenues. IAG shares have climbed by more than 86% from its lowest level in October.

Analysts Seem Optimistic

IAG share price has staged a strong recovery since the start of the new year. The parent company of British Airways had a tough 2022 as the ensuing cost of living crisis in the UK and inflationary cost pressures heavily weighed on the company.

However, with the recovery in demand in the travel sector, as well as increased capacity in the airline sector, analysts feel that 2023 will be a good year for IAG shares. Jaime Rowbotham, an analyst at Deutsche Bank recently raised IAG’s price target to 180p, maintaining its “Hold” stock rating.

The UBS Group also seems optimistic about the company’s performance, upgrading the stock to a “Buy” rating with a price target of 180p. Liberum Capital also revised its analysis of the company’s shares, changing its price target from 145p to 220p. The Bank of America has also awarded the company’s shares a “Buy” rating.

IAG Share Price Analysis

The daily chart shows that the IAG share price has been on a strong bullish run in recent weeks. The IAG stock has managed to remain above the 25-day and 50-day moving averages. It has also moved above the 50-day and 200-day exponential moving averages. Its Relative Strength Index (RSI) has moved higher into the overbought zone.

Therefore, with the optimism from analysts, I expect the IAG share price to continue rising as buyers target the key resistance level at 180p.