(News Bulletin 247) – Liberum confirms its ‘buy’ recommendation on easyJet with a price target left at 690 pence, reversing half-year results leading it to make minimal changes to its forecasts, which should remain above consensus.
“Demand remains resilient, forward bookings remain encouraging and capacity restrictions imposed on the industry should continue to support substantial improvements in unit revenues,” he said.
The broker adds that the British low-cost carrier’s repositioning during the pandemic should put it in a better position, but thinks ‘this is not reflected in the valuation’.
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