easyJet: Berenberg initiates with 'sell' rating
(CercleFinance.com) - Berenberg said on Tuesday that it has initiated its coverage of the easyJet stock with a "sell" rating, as it currently sees more value in long-haul flights.
The German brokerage firm has set a target price of 1,310 pence a share. "We challenge the conventional late-cycle preference for "safer" low-cost carrier choices, preferring longhaul exposure based on developing industry trends," Berenberg said in a report.
It has started coverage of IAG and Air France-KLM with "buy" ratings.
Shares in easyJet, which have been hit by uncertainties around Brexit as of late, were down 0.5% at 1,431 pence in Tuesday trade, underperforming the flat STOXX Europe 600 Travel & Leisure index.
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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.
The German brokerage firm has set a target price of 1,310 pence a share. "We challenge the conventional late-cycle preference for "safer" low-cost carrier choices, preferring longhaul exposure based on developing industry trends," Berenberg said in a report.
It has started coverage of IAG and Air France-KLM with "buy" ratings.
Shares in easyJet, which have been hit by uncertainties around Brexit as of late, were down 0.5% at 1,431 pence in Tuesday trade, underperforming the flat STOXX Europe 600 Travel & Leisure index.
Copyright (c) 2018 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.