easyJet (EZJ)

Sector:

Tourism and Leisure Services

1,379.00p
   
  • Change Today:
      19.00p
  • 52 Week High: 1,384.50
  • 52 Week Low: 854.80
  • Currency: UK Pounds
  • Shares Issued: 395.21m
  • Volume: 187,240
  • Market Cap: £5,450m
  • RiskGrade: 182
  • Beta: 1.03

Berenberg raises target price on EasyJet following Q3 update

By Iain Gilbert

Date: Friday 19 Jul 2019

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg upped their target price on low-cost carrier EasyJet from 1,120p to 1,150p on Friday, noting that momentum appeared to have improved earlier than they expected.
Berenberg said EasyJet's third-quarter interim statement on Thursday had kicked off the "relative margin outperformance" that it was expecting for the coming year.

The German bank said EasyJet's "resilient late-booked yields" had "surprised" it and stated that it saw "continued evidence of supply restraint" by the airline and the industry as a whole.

"We expect this to support pricing that disproportionately benefits EasyJet versus its low-cost peers," said Berenberg, which also reiterated its 'buy' rating on the shares.

Berenberg said that even if demand slows, it expects pricing to continue to benefit from incremental capacity deceleration - 10% to 3% from 2019 to 2020 for the group and to below 4% in 2020 for the industry as a whole.

"We model EasyJet's 2020 first-half revenues per seat up 2.7% year-on-year, with upside if a sizable airline in EasyJet's markets fails," said Berenberg, which also praised the company for its ability to continue taking "profitable market share" from flag carriers.

Berenberg also said EasyJet's likely near-term fleet mix shift to smaller A320neo aircraft could support free cash generation in 2020, albeit offset by incremental unit costs.

As of 1400 BST, EasyJet shares were flying 1.44% higher at 1,091.50p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

easyJet Market Data

Currency UK Pounds
Share Price 1,379.00p
Change Today 19.00p
% Change 1.40 %
52 Week High 1,384.50
52 Week Low 854.80
Volume 187,240
Shares Issued 395.21m
Market Cap £5,450m
Beta 1.03
RiskGrade 182

easyJet Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
14.70% above the market average14.70% above the market average14.70% above the market average14.70% above the market average14.70% above the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average
Price Trend
66.89% above the market average66.89% above the market average66.89% above the market average66.89% above the market average66.89% above the market average
61.64% above the sector average61.64% above the sector average61.64% above the sector average61.64% above the sector average61.64% above the sector average
Income Not Available
Growth
48.11% below the market average48.11% below the market average48.11% below the market average48.11% below the market average48.11% below the market average
29.58% below the sector average29.58% below the sector average29.58% below the sector average29.58% below the sector average29.58% below the sector average

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 15
Sell 2
Strong Sell 2
Total 25
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

easyJet Dividends

  Latest Previous
  Final Final
Ex-Div 27-Feb-20 28-Feb-19
Paid 20-Mar-20 22-Mar-19
Amount 43.90p 58.60p

Trades for 06-Dec-2019

Time Volume / Share Price
11:26 8 @ 1,379.00p
11:26 21 @ 1,379.00p
11:26 535 @ 1,379.16p
11:24 38 @ 1,378.82p
11:23 150 @ 1,378.82p

easyJet Key Personnel

CFO Andrew Findlay
CEO Johan Lundgren
COO Chris Browne

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