EasyJet: Oddo BHF raises target price

(CercleFinance.com) - Oddo BHF reiterates its 'outperform' rating on easyJet shares, with a target price raised from 660 pence to 670 pence, following the British airline's satisfactory Q1 results.


Highlighting a good performance in unit costs and Holidays over this period, and a confident tone for Q2 and the summer season, the broker is raising its pre-tax profit estimates by 6% for the current financial year.

easyJet will benefit from a favourable pricing environment thanks to solid demand and capacity discipline on intra-European routes. Opportunities in ancillary revenues and Holidays are credible, with significant leverage on profitability, the analyst says.


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