easyJet: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse reiterates its "outperform" rating on the easyJet share, having increased its corresponding target price by 23% to 1032 pence, in the wake of taxable profit assumptions that it has raised by up to 14% over the period 2022-24.
"easyJet (EZJ) shares have underperformed Ryanair and Wizz Air by 43% and 62%, respectively, on a 12-month view, weighed down by investor concerns regarding its balance sheet, competitive positioning and cost control," the broker says.
"Self-help story to become clearer as demand recovers," Credit Suisse believes, which sees the "greatest potential to change investor perceptions for the better and one of our top ideas to gain exposure to global air travel's recovery".
The market doesn't seem to agree - at least not today - the easyJet share is down over 3.5% at noon on Friday.
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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.
"easyJet (EZJ) shares have underperformed Ryanair and Wizz Air by 43% and 62%, respectively, on a 12-month view, weighed down by investor concerns regarding its balance sheet, competitive positioning and cost control," the broker says.
"Self-help story to become clearer as demand recovers," Credit Suisse believes, which sees the "greatest potential to change investor perceptions for the better and one of our top ideas to gain exposure to global air travel's recovery".
The market doesn't seem to agree - at least not today - the easyJet share is down over 3.5% at noon on Friday.
Copyright (c) 2021 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.