easyJet: Liberum upgrades stock

(CercleFinance.com) - Liberum has upgraded its rating on easyJet shares from 'hold' to 'buy', while reducing its target price for them from 1,000p to 900p, due to a reduction in its near-term guidance, saying that, "Share price weakness has created an attractive entry point".


"Short-term uncertainty over travel restrictions persists, but we see the long-term opportunity as intact. Liquidity is sufficient to withstand further disruption through the winter," the broker said.

Liberum has reduced its current year forecast on more cautious capacity plans for the UK low-cost airline, although has raised its 2023 estimate on a better long-term capacity outlook.


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