 Analysts at Liberum Capital have upgraded their rating for Ryanair Holdings PLC LSE:RYA to buy from hold after strong holiday season demand for the budget airline led to a better-than-expected December 2022 quarter. In a note to clients, the analysts said: Management now expects March 2023E net profit to be between 1.325bn and 1.425bn, 25 better than the previous guidance range. 