easyJet: Oddo still a buyer, cutting target price

(CercleFinance.com) - Oddo BHF reiterates its 'outperform' recommendation on easyJet shares, despite cutting its target price for them from 800p to 650p, saying that it remains confident that the recovery profile will accelerate from the summer season.


The broker believes that easyJet will be able to seize opportunities in its markets, particularly in the UK, and remains confident in its ability to retain much of the cost savings generated during the downturn.

In terms of valuation, its P/E multiples are becoming attractive again from the year to end-September 2024 at 6.2x (compared to a 10-year pre-crisis historical average of 11.8x), the analyst adds.


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.