easyJet: Oddo BHF still on hold
(CercleFinance.com) - Oddo BHF maintains its "neutral" rating on easyJet shares, with an unchanged target price of 560p.
easyJet has just published a trading update for FY 2022-2023, which is pretty much in line with expectations, with a core pre-tax profit of £440m to £460m (vs. Visible Alpha consensus of £457m and Oddo BHF's forecast of £465m).
Against this backdrop, the analyst estimates that Q4 core pre-tax profit should be between £650m and £670m, with y-o-y revenue per seat growth of +9% versus a target of around 10%, with unchanged growth in costs per seat.
Forecasts for Q1 2023-2024 are in line with expectations, the broker says, reiterating its forecast of pre-tax profit of £511m for the year to September 2024 (below the Visible Alpha consensus of £535m).
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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 has just published a trading update for FY 2022-2023, which is pretty much in line with expectations, with a core pre-tax profit of £440m to £460m (vs. Visible Alpha consensus of £457m and Oddo BHF's forecast of £465m).
Against this backdrop, the analyst estimates that Q4 core pre-tax profit should be between £650m and £670m, with y-o-y revenue per seat growth of +9% versus a target of around 10%, with unchanged growth in costs per seat.
Forecasts for Q1 2023-2024 are in line with expectations, the broker says, reiterating its forecast of pre-tax profit of £511m for the year to September 2024 (below the Visible Alpha consensus of £535m).
Copyright (c) 2023 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.