easyJet: Stifel double downgrades stock
(CercleFinance.com) - In a report on European airlines and airport operators, Stifel has downgraded its rating on easyJet shares directly from "buy" to "sell", having halved its target price for them from six to three pounds.
Stifel warns that the 2023 environment for the sector, with the "upcoming downturn into 2023 might be harsher than expected by most, as it will not be a normal one: we expect demand weakness and cost inflation (fuel/labour) at the same time".
Specifically in the case of easyJet, Stifel says it anticipates amplified yield and cost pressures at the British low-cost carrier. For the record, it has also downgraded rating on its Irish peer Ryanair shares to "sell".
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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.
Stifel warns that the 2023 environment for the sector, with the "upcoming downturn into 2023 might be harsher than expected by most, as it will not be a normal one: we expect demand weakness and cost inflation (fuel/labour) at the same time".
Specifically in the case of easyJet, Stifel says it anticipates amplified yield and cost pressures at the British low-cost carrier. For the record, it has also downgraded rating on its Irish peer Ryanair shares to "sell".
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.