easyJet: Credit Suisse upgrades to buy.
(CercleFinance.com) - This morning Credit Suisse upgraded its rating on the easyJet share from "neutral" to "outperform," with the British low cost airline set to have a nice summer.
The Swiss broker has increased its target price for the share from 1,278 pence to 1,583 pence (+23.9%).
Yesterday, easyJet said that in June, its passenger traffic had increased by 11.3%, reaching 7.7 million passengers. This trend exceeds that observed over 12 rolling months (+8.7%).
The main arguments put forward in its research report include: "improving summer trends" moderate competition, which thus increases leeway in its pricing. Also, in the case of normalisation of traffic over the winter, a nice recovery over the next fiscal year, with easyJet increasing its flight offer to popular destinations.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The Swiss broker has increased its target price for the share from 1,278 pence to 1,583 pence (+23.9%).
Yesterday, easyJet said that in June, its passenger traffic had increased by 11.3%, reaching 7.7 million passengers. This trend exceeds that observed over 12 rolling months (+8.7%).
The main arguments put forward in its research report include: "improving summer trends" moderate competition, which thus increases leeway in its pricing. Also, in the case of normalisation of traffic over the winter, a nice recovery over the next fiscal year, with easyJet increasing its flight offer to popular destinations.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.