EasyJet: Stifel lowers target price

(CercleFinance.com) - Stifel maintains its 'buy' recommendation on easyJet shares while lowering its target price from 650 pence to 570 pence, in the wake of a cautious reduction in its unit revenue and pre-tax profit assumptions for fiscal 2024 and 2025.


The broker says it welcomed the British airline's quarterly results with relief after its Irish peer Ryanair warned of summer yields.

Whether or not Ryanair's warning is specific to the group, we believe that sector momentum is gradually becoming weaker, rather than stronger, Stifel warns, however.


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.