(News Bulletin 247) – Liberum reaffirms its ‘buy’ recommendation on easyJet with a price target raised from 500 to 650 pence, after positive half-years which ‘saw management raising its targets on strong demand and internal measures’ .
‘Macroeconomic risks to demand have been ignored, supporting our thesis that the lag in restoring capacity in the sector has left plenty of room for further recovery,’ he said.
The broker raised its EPS forecast for the year ending September 2023 by 46%, ‘highlighting the extreme sensitivity of earnings estimates to small improvements in revenue or costs’.
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