JPMorgan Chase & Co. Issues Pessimistic Forecast for Jet2 (LON:JET2) Stock Price

Key Points

• JPMorgan Chase & Co. cut its price target on Jet2 from GBX 1,300 to GBX 1,200 and maintained a "neutral" rating, implying about an 8.03% upside from the prior close.
• Analyst consensus remains a "Moderate Buy" with a consensus target of GBX 1,642.83, though several brokers (Canaccord, RBC, Deutsche Bank) have recently trimmed their targets.
• Company insiders made notable purchases (e.g., Gary Brown and Stephen Heapy at GBX 766), and insiders now own 21.50% of the stock.

Jet2 (LON:JET2 - Get Free Report) had its target price reduced by JPMorgan Chase & Co. from GBX 1,300 to GBX 1,200 in a report released on Tuesday,Digital Look reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 8.03% from the stock's previous close.

A number of other equities research analysts have also weighed in on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 1,800 target price on shares of Jet2 in a research report on Wednesday, April 29th. Canaccord Genuity Group lowered Jet2 to a "buy" rating and decreased their target price for the company from GBX 2,350 to GBX 1,900 in a research report on Wednesday, April 29th. Royal Bank Of Canada cut their price target on Jet2 from GBX 2,000 to GBX 1,800 and set an "outperform" rating on the stock in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Jet2 from GBX 1,596 to GBX 1,457 and set a "buy" rating on the stock in a report on Friday, March 20th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of GBX 1,642.83.

Jet2 Trading Down 1.4%

Shares of LON JET2 opened at GBX 1,110.80 on Tuesday. The company has a quick ratio of 1.49, a current ratio of 1.40 and a debt-to-equity ratio of 61.57. The business has a fifty day simple moving average of GBX 1,159.75 and a two-hundred day simple moving average of GBX 1,271.45. The firm has a market cap of £2.03 billion, a PE ratio of 4.74, a price-to-earnings-growth ratio of 9.34 and a beta of 1.22. Jet2 has a twelve month low of GBX 980 and a twelve month high of GBX 1,963.

Insider Transactions at Jet2

In other Jet2 news, insider Gary Brown acquired 2,349 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was purchased at an average price of GBX 766 per share, with a total value of £17,993.34. Also, insider Stephen Heapy acquired 2,349 shares of the stock in a transaction dated Monday, March 2nd. The stock was acquired at an average cost of GBX 766 per share, with a total value of £17,993.34. Insiders acquired 6,336 shares of company stock valued at $5,737,896 in the last quarter. 21.50% of the stock is currently owned by corporate insiders.

Jet2 Company Profile

Jet2 plc is a leading leisure travel group, specialising in friendly low fares from its award-winning airline, Jet2.com, and package holidays you can trust from the UK's largest package holiday provider, Jet2holidays. Jet2.com is the UK's third largest airline, flying from 12 UK airports to over 70 destinations across Europe and beyond and Jet2holidays is the UK's largest tour operator.

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