easyJet: Liberum confirms buy rating
(CercleFinance.com) - Liberum confirms its 'buy' rating on easyJet shares, maintaining its target price at 690p, reviewing the low-cost airline's H1 results, leading it to make minimal changes to its forecasts, which are likely to remain above consensus.
"Demand remains resilient, forward bookings remain encouraging, and enforced industry capacity restraint should continue to support material unit revenue improvements," it said.
The broker adds that the UK low-cost carrier's repositioning during the pandemic should put it in a better position, but believes that "this is not reflected in the valuation".
Copyright (c) 2023 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.
"Demand remains resilient, forward bookings remain encouraging, and enforced industry capacity restraint should continue to support material unit revenue improvements," it said.
The broker adds that the UK low-cost carrier's repositioning during the pandemic should put it in a better position, but believes that "this is not reflected in the valuation".
Copyright (c) 2023 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.