(CercleFinance.com) – The stock ended the day up almost 1%, benefiting from the positive analysis of the day by Liberum.
The analyst reaffirms his ‘buy’ recommendation and 800 pence price target on easyJet, after the release last week of half-year results which ‘showed expected progress and early evidence of a rapid rebound in demand ‘.
‘Summer revenue outlook is strong and boosted by very strong ancillary revenue momentum (57% above their 2019 level per passenger in the first half)’, the broker points out in its note on the air carrier .
Despite downside risks to the economic and household outlook for the year ahead, Liberum believes that ‘the reallocation of capacity to better bases and improved cost flexibility are not reflected in the current valuation’.
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