Brokerages Set Price Target for easyJet at GBX 677

easyJet plc (LON:EZJ) has received a consensus rating of “Moderate Buy” from six brokerages currently covering the company, according to MarketBeat. The consensus reflects a balanced outlook, with three analysts recommending a hold on the stock while the other three have issued buy ratings.

The average price target for easyJet over the next twelve months is set at approximately GBX 673, based on recent updates from various brokerages. Notably, several analysts have expressed differing views on the stock’s potential.

Deutsche Bank Aktiengesellschaft lowered its price target for easyJet from GBX 600 to GBX 535, maintaining a “hold” rating in a report released on September 19, 2023. On the other hand, Panmure Gordon raised its price objective for the airline from GBX 730 to GBX 780, issuing a “buy” recommendation in a report dated October 3, 2023.

Additionally, JPMorgan Chase & Co. reiterated a “neutral” rating for easyJet shares on October 15, 2023. Citigroup also adjusted its target price, decreasing it from GBX 520 to GBX 500 while maintaining a neutral stance. Meanwhile, Peel Hunt reaffirmed a “buy” rating, setting a price target of GBX 850 in a note issued on October 10, 2023.

Insider Activity and Stock Performance

In related news, insider trading activity has been notable. On September 18, 2023, Sue Clark, a company insider, purchased 7,680 shares at an average price of GBX 459, amounting to £35,251.20. Another insider, Harald Eisenächer, acquired 4,000 shares on November 26, 2023, for an average of GBX 476 per share, totaling £19,040. Over the last quarter, insiders have bought a combined 11,712 shares valued at approximately $5.44 million, indicating a strong confidence in the company’s future. Company insiders currently own 15.15% of the stock.

Shares of easyJet opened at GBX 485 on November 28, 2023. The company boasts a market capitalization of £3.64 billion, with a price-to-earnings ratio of 8.92 and a PEG ratio of 0.59. The stock’s volatility is reflected in its beta of 2.49.

The firm has a fifty-day simple moving average of GBX 472.76 and a 200-day average of GBX 503.16. easyJet has experienced a twelve-month low of GBX 401.05 and a high of GBX 594.

On November 25, 2023, easyJet announced its earnings results, reporting earnings per share (EPS) of GBX 66.40 for the recent quarter. The company achieved a return on equity of 13.89% with a net margin of 4.27%. Analysts predict an EPS of approximately 67.34 for the current fiscal year.

About easyJet

easyJet is a low-cost, European, point-to-point airline that leverages its operational efficiency and strong airport positions to deliver low fares to customers. The company aims to provide accessible travel options, emphasizing convenience and exceptional customer service.

As the airline sector continues to recover and evolve, easyJet’s strategic decisions and market performance will be closely monitored by investors and analysts alike.