easyJet: UBS downgrades to 'sell' on valuation
(CercleFinance.com) - easyJet shares are down today, after UBS downgraded the stock from "neutral" to "sell," citing its "unattractive risk/reward.
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In a research note entitled "When good is not good enough," the broker said, however, that it has raised its target price for the shares from 1,100 pence to 1,240 pence.
Even so, "given valuation we now downgrade easyJet from neutral to sell," UBS added.
The low-cost airline's shares are currently down 4.3% at 1,436 pence in London's midcap index, FTSE 250, which is down about 1%.
Copyright (c) 2019 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.
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In a research note entitled "When good is not good enough," the broker said, however, that it has raised its target price for the shares from 1,100 pence to 1,240 pence.
Even so, "given valuation we now downgrade easyJet from neutral to sell," UBS added.
The low-cost airline's shares are currently down 4.3% at 1,436 pence in London's midcap index, FTSE 250, which is down about 1%.
Copyright (c) 2019 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.