easyJet: Liberum maintains buy rating after H1 results
(CercleFinance.com) - Liberum reinstates its 'buy' rating on easyJet shares, along with a target price of 800p, following last week's interim results, which "showed expected progress and early evidence of a rapid rebound in demand".
"The revenue outlook for the summer is strong and boosted by very strong ancillary revenue trends (57% above 2019 levels per passenger in H1)," the broker said.
In spite of risks of a weakening economic and household outlook for the year ahead, Liberum believes that "the reallocation of capacity to better bases and improved cost flexibility are not reflected in the current valuation".
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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 revenue outlook for the summer is strong and boosted by very strong ancillary revenue trends (57% above 2019 levels per passenger in H1)," the broker said.
In spite of risks of a weakening economic and household outlook for the year ahead, Liberum believes that "the reallocation of capacity to better bases and improved cost flexibility are not reflected in the current valuation".
Copyright (c) 2022 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.