(News Bulletin 247) – Stifel raises its recommendation on easyJet to ‘hold’ to ‘buy’, with a price target of 650 pence, in a note devoted to the European airline sector, for which it expects mergers and acquisitions ‘bring more rationality’.
“Rational capacity, not the strength of demand, is the most important driver for strong returns and post-pandemic profitability,” said the broker, who nevertheless recognizes that demand remains strong.
In this context, Stifel puts forward easyJet and Air France-KLM as dynamic ideas, while Lufthansa and Ryanair, also recommended for ‘buy’, have in his view long-term fundamentals that are underappreciated, and which remain to be ‘held’ on IAG.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
