easyJet: Oddo BHF still neutral, but raises target price
(CercleFinance.com) - On Wednesday an analyst at Oddo BHF confirmed a "neutral" rating on the easyJet share, while raising his target price , after noting a confident tone on pricing and a limited risk of overshooting cost targets at the group as it provided its trading update.
The broker reiterates its Neutral rating on the share, although has raised its target price from 1,400 p to 1,520 p. Although it is convinced that easyJet will continue to benefit from the optimal orientation of conditions for capacity over the summer season, expecting upbeat unit revenue excluding FX factors, which will compensate for the delay in unit costs relative to peers, analysts find the valuation a bit "restrictive".
Oddo BHF's new target therefore pretty much match's the share's current price.
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