(News Bulletin 247) – Liberum reiterates its ‘buy’ recommendation on easyJet with an unchanged price target at 690 pence, after the publication by the group of half-year results in line with expectations, with a reduced seasonal loss.

The broker points out that booking trends are returning to normal, and that easyJet’s holidays business is expected to generate £80 million in taxable profit this year, a figure above consensus.

While the British low-cost airline has not given further profit targets for this year, Liberum sees upward pressure on the consensus and points to medium-term margin and EBITDAR targets put forward.

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