This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Technical Observations – For
Technical Observations – Against
Potential for share price bounce towards recent highs. Competitor Ryanair facing additional staff costs over and above higher oil prices. Budget airlines continue to fare better than flag carriers. Shares found support since last week’s June traffic statistics.
Risks to easyJet shares include higher fuel costs, if they can’t be hedged, a hard Brexit next March in terms of flight rights between the UK and Europe and Air Traffic Control strikes in any major EU countries.
Consensus is Bullish with 48% of brokers saying Buy and 0% saying Sell. 90% of broker price targets suggest upside from current levels. The share price bounce could encourage upgrades from the 52% of Neutrals. The average broker target of 1837p is just above our short-term objective of revisiting May/June highs.
Next Event: Q3 Results, 18 July; Traffic Stats, early Aug
Latest Broker 12-Month Consensus: 48% Buy, 52% Hold, 0% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | -2.5 | -6.1 | -0.7 | 7.9 | 21.1 | 60.2 | 3.5 | 19.8 | 21.7 |
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Prepared by Michael van Dulken, Head of Research