easyJet: Liberum reduces price target
(CercleFinance.com) - Liberum reaffirms its 'hold' recommendation on easyJet with a price target lowered down to 500 pence from 600 pence, noting that the “short-term outlook is toughening with tightening COVID restrictions”.
“easyJet has moderated its capacity growth plans for Q1 (December), while retaining flexibility to match capacity to available demand”, indicates the broker in its note.
Liberum cuts its forecasts to adapt to the short-term objectives of the British air carrier's management, and to “incorporate our assumption of a slower restoration of capacity”.
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