easyJet: shares stumble after analyst downgrade
(CercleFinance.com) - The easyJet share stumbled on Thursday, after a Barclays analyst downgraded the airline, saying that overall the European fare environment has become "softer.
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easyJet shares were down over 3.5% to 1,150.5 pence in morning trading on the London Stock Exchange, largely underperforming the FTSE 100 index, which is currently down around 0.5%.
In a research report, analysts at Barclays downgraded easyJet from "equal weight" to "underweight," arguing that that the overall European low-cost carrier fare environment has been sequentially softer in the fourth quarter.
The broker, which has also cut its target price for the share from 15 euros to 12 euros, particularly notes softness in Spain.
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