JPMorgan Chase & Co. Cuts easyJet (LON:EZJ) Price Target to GBX 350

Key Points

• JPMorgan Chase cut its price target on easyJet from GBX 400 to GBX 350 and maintains an "underweight" rating, implying roughly a 10.49% downside from the stock's current level.
• Analyst views are mixed — firms like UBS and RBC have high targets (e.g., UBS GBX 800, RBC GBX 590) while Deutsche Bank and Citigroup have trimmed targets; the consensus is an average rating of "Hold" with an average target of GBX 600.
• easyJet shares traded at GBX 391 (down ~1.4%) with a market cap of £2.92 billion, a P/E of 6.04, and a 12-month range of GBX 337.10–590.60.

easyJet (LON:EZJ - Get Free Report) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from GBX 400 to GBX 350 in a research report issued to clients and investors on Wednesday,London Stock Exchange reports. The brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential downside of 10.49% from the stock's current price.

Several other analysts have also recently issued reports on the company. UBS Group reissued a "buy" rating and issued a GBX 800 target price on shares of easyJet in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft cut their target price on easyJet from GBX 465 to GBX 340 and set a "sell" rating on the stock in a research note on Thursday, March 19th. Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 590 target price on shares of easyJet in a research note on Monday, February 2nd. Finally, Citigroup cut their target price on easyJet from GBX 500 to GBX 490 and set a "neutral" rating on the stock in a research note on Monday, February 2nd. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of GBX 600.

easyJet Trading Down 1.4%

Shares of LON EZJ traded down GBX 5.40 during trading hours on Wednesday, hitting GBX 391. The company's stock had a trading volume of 4,065,544 shares, compared to its average volume of 26,212,994. The company has a debt-to-equity ratio of 83.65, a quick ratio of 1.09 and a current ratio of 1.11. The stock has a market cap of £2.92 billion, a price-to-earnings ratio of 6.04, a P/E/G ratio of 0.59 and a beta of 1.76. easyJet has a 12 month low of GBX 337.10 and a 12 month high of GBX 590.60. The business has a 50-day simple moving average of GBX 414.67 and a 200-day simple moving average of GBX 460.82.

easyJet Company Profile

We are a low-cost, European, point-to-point airline. We use our cost advantage, operational efficiency and leading positions in primary airports to deliver low fares for our customers – making great value travel accessible for everyone. We aim to provide simple, convenient travel and holidays at a competitive price with outstanding customer service. easyJet is one of the largest airlines in the world, with 347 aircraft, operating 1,099 routes across 35 countries and 160 airports.

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