easyJet: Berenberg upgrades to 'buy'
(CercleFinance.com) - Berenberg has upgraded the easyJet stock from "hold" to buy", saying that its valuation discount has hit "extreme" levels.
"Creeping flyer confidence has done little for easyJet's shares," Berenberg analysts say in a note.
"Leisure-focused booking growth and industry restraint should generate momentum", they add.
Berenberg writes that easyJet shares have performed in line with distressed flag carrier peers, falling over 56% year-to-date.
Note that the German broker has cut its price target from 850 pence to 800 pence.
Copyright (c) 2020 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.