easyJet: broker downgrade hits shares
(CercleFinance.com) - The easyJet share fell over 2% on Wednesday, making it one of the worst-performing FTSE 250 stocks, after Berenberg downgraded its rating on the stock to "hold" from "buy".
In a note to clients, the German broker said that risks are more balanced now that worries surrounding the budget airline have lessened.
"We think that upside is now more limited for easyJet and downgrade our rating to hold," said Berenberg, which prefers buy-rated Wizz Air and IAG.
However, the broker raised its target price for the share from 730 pence to 820 pence.
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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.
In a note to clients, the German broker said that risks are more balanced now that worries surrounding the budget airline have lessened.
"We think that upside is now more limited for easyJet and downgrade our rating to hold," said Berenberg, which prefers buy-rated Wizz Air and IAG.
However, the broker raised its target price for the share from 730 pence to 820 pence.
Copyright (c) 2020 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.