EasyJet: share price down, Stifel lowers guidance

(CercleFinance.com) - EasyJet shares were down nearly 1.
5% at the end of the day on the London Stock Exchange.

Stifel maintained its 'buy' recommendation on easyJet, but lowered its target price from 650 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', warns Stifel, however.

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