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easyJet: Oddo upgrades to buy

(CercleFinance.com) - In a report on the airline sector, Oddo has upgraded its rating on the easyJet stock from "neutral" to "buy".

After a sharp improvement in profitability in 2017, it believes that 2018 will be a year of transition. Unit revenue will continue to rise, despite an acceleration in capacity, although oil price changes will hide this improvement, the broker says, which has also raised its target price for the share to 2,100 pence, confirming its "buy" rating on Ryanair.

Both these stocks will first benefit from acceleration in the concentration of the market in Europe, which will continue in a context of rising fuel prices, Oddo believes. However, the broker has abandoned its "buy” rating on Lufthansa, as the rapid increase in fuel prices will not enable the group to continue to improve profitability.

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