easyJet: shares up after broker upgrade

(CercleFinance.com) - Shares in easyJet are up almost 3% on Friday after Morgan Stanley raised its rating on the stock as part of a shake-up on European airlines.


The broker has upgraded the share from "equal weight" to "overweight" and has increased its target price from 1,490 pence to 1,725 pence.

Morgan Stanley now seems to have a clear preference for low-cost carriers as it also has an "overweight" rating on Ryanair, while it has neutral ratings on Air France-KLM, IAG and Lufthansa.

"Higher oil and varied capacity pressures change the landscape of earnings momentum for European airlines in 2018 compared to 2017," the broker said in a report.

easyJet shares are currently up 2.9% at 1,558 pence.

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