(CercleFinance.com) – In a note dedicated to European airlines and airport operators, Stifel downgrades its recommendation on easyJet directly from ‘buy’ to ‘sell’, with a price target reduced from six to three pounds sterling.
The broker warns that the 2023 context for the sector “should be more difficult than most expect, with simultaneous weakness in demand and cost inflation (fuel and labor)”.
More specifically in the case of easyJet, Stifel says he “anticipates increased pressures on yields and costs” from the British low-cost carrier. By comparison, it also has a degraded advice to ‘sell’ on its Irish peer Ryanair.
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