(News Bulletin 247) – UBS adjusts its forecasts after the announcement of the results of the first half of 2023 of Easyjet.

The analyst retains his Buy recommendation on the stock but is revising his price target upwards from 650 to 710 pence.

“Following the results of the 1st half of 23, we are increasing our 2023 net profit before tax forecast to £375m with an upside risk”, adds UBS.

easyJet said it expects, based on the current strength of demand, an annual result above the market consensus, which targets 260 million pounds for the financial year which will end at the end of September.

Copyright (c) 2023 News Bulletin 247. All rights reserved.