easyJet: UBS still a buyer after annual results
(CercleFinance.com) - UBS confirms its "buy" rating on easyJet shares, maintaining its target price for them at 750 pence, which suggests 85% upside potential rise in the British low-cost airline's share.
The broker acknowledges that the share once again reacted poorly to Thursday's results, leading it to adjust its forecasts. "Investors remain cautious and appear unwilling to look beyond the near term", it says.
"FY23 guidance in line with consensus, but medium-term targets, net cash position and 1Q24 guidance, in our view, are supportive for the shares", UBS adds.
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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 broker acknowledges that the share once again reacted poorly to Thursday's results, leading it to adjust its forecasts. "Investors remain cautious and appear unwilling to look beyond the near term", it says.
"FY23 guidance in line with consensus, but medium-term targets, net cash position and 1Q24 guidance, in our view, are supportive for the shares", UBS adds.
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.