Dear readers,
We are glad to announce of our new website, https://uk.webfg.com. There you will continue to have access to the full content of the Sharecast newswire, alongside an improved and expanded suite of market data and research tools for both the UK and the main international markets. As a first step in the transition to the new site, over coming days and weeks the news and data pages on Sharecast.com will redirect you towards the new website which we earnestly hope you will find even more useful than the current service. Should anyone like to comment or provide constructive criticism on the new layout or what features they would like to see added or deleted, do please send us an e-mail to info@digitallook.com. Lastly, of course, we wish to express our heartfelt gratitude for your support and encouragement over the years as we continued to grow and expand the service.
Very best,
Sharecast

Login/Register

Cannacord Genuity lifts easyJet to a 'hold' after management raises guidance

Market Buzz

Cannacord Genuity lifts easyJet to a 'hold' after management raises guidance

Thu, 12 October 2017
Article viewed 120 times
http://stmedia.digitallook.com/web/img/dl/ep_flota_deasyjet.jpg
bool(false)
Cannacord Genuity lifts easyJet to a 'hold' after management raises guidance
easyJet Quote more

Price: 1,315.00

Chg: 18.00

Chg %: 1.39%

Date: 16:30

FTSE 100 Quote

Price: 7,523.23 Chg: 0.19 Chg %: 0.00% Date: 16:55

(ShareCast News) - Analysts at Cannacord Genuity raised their recommendation on shares of easyJet from 'sell' to 'hold', arguing that better-than-expected Summer 2017 trading would provide greater-than-expected lift for the shares.
The budget carrier's revenues per share fell by 1.4% over the summer, but that was better than the 2% drag they had penciled in, which meant profits before tax were now likely to come in towards £405m to $410m, as per management's revised guidance, versus a previous view for between £380m to £420m.

Greater competition was still expected to prove a headwind for the firm's profit recovery versus the lofty levels reached a couple of years ago, although easyJet's own capacity growth deceleration in 2017/18 would act as a partial offset, they said.

All told, Cannacord raised its target price for the stock from 1,150p to 1,200p, yet with less than 10% downside potential remaining it upgraded its view on the shares.

The Canadian broker also upped its forecasts for earnings per share for 2016/17 by 6.2% to 84.0p, on the back of which it also nudged up its estimate for the company's dividend per share from 36.7p to 38.9p.