Royal Bank Of Canada Issues Positive Forecast for Jet2 (LON:JET2) Stock Price

Key Points

• Royal Bank of Canada raised its price target on Jet2 to GBX 1,900 from GBX 1,800 and reiterated an “outperform” rating, implying about 31.8% upside from the previous close.
• Broker sentiment remains constructive overall: six analysts rate Jet2 a Buy and one rates it Hold, with an average target price of GBX 1,638.14.
• Jet2 shares were down 1.7% on the day to GBX 1,442.05, though the company recently posted strong operating results and launched a share buyback program that signals management confidence.

Jet2 (LON:JET2 - Get Free Report) had its price target upped by investment analysts at Royal Bank Of Canada from GBX 1,800 to GBX 1,900 in a research report issued to clients and investors on Thursday,Digital Look reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 31.76% from the company's previous close.

A number of other brokerages have also issued reports on JET2. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Jet2 from GBX 1,596 to GBX 1,457 and set a "buy" rating on the stock in a research report on Friday, March 20th. UBS Group reaffirmed a "buy" rating and issued a GBX 1,660 target price on shares of Jet2 in a research note on Friday, July 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Jet2 from GBX 1,300 to GBX 1,200 and set a "neutral" rating on the stock in a research note on Tuesday, May 5th. Jefferies Financial Group reissued a "buy" rating and issued a GBX 1,800 price target on shares of Jet2 in a research note on Wednesday, April 29th. Finally, Canaccord Genuity Group decreased their target price on Jet2 from GBX 1,900 to GBX 1,750 and set a "buy" rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of GBX 1,638.14.

Jet2 Trading Down 1.7%

Shares of LON:JET2 opened at GBX 1,442.05 on Thursday. The company has a debt-to-equity ratio of 61.57, a quick ratio of 1.49 and a current ratio of 1.40. The company has a market cap of £2.61 billion, a P/E ratio of 6.16, a P/E/G ratio of 9.34 and a beta of 1.16. The stock's 50-day moving average is GBX 1,219.86 and its 200-day moving average is GBX 1,232.88. Jet2 has a 52-week low of GBX 980 and a 52-week high of GBX 1,748.

Jet2 (LON:JET2 - Get Free Report) last issued its earnings results on Wednesday, July 8th. The company reported GBX 211.20 EPS for the quarter. Jet2 had a return on equity of 24.73% and a net margin of 6.11%. Equities research analysts predict that Jet2 will post 170.9134615 earnings per share for the current year.

Jet2 declared that its board has initiated a share buyback program on Wednesday, July 8th that permits the company to buyback 0 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its shares are undervalued.

Key Headlines Impacting Jet2

Here are the key news stories impacting Jet2 this week:

• Positive Sentiment: Jet2 said summer bookings are improving, with demand rising as Middle East tensions ease and peace talks boost consumer confidence in travel demand. UK's Jet2 says summer bookings rise 7% as Middle East tensions ease
• Positive Sentiment: The airline reported record revenues and record passenger numbers, signaling strong operational momentum and healthy trading into the summer season. Jet2 Reports Record Revenues, Sees Strong Summer Demand
• Positive Sentiment: Jet2 launched a £250 million share buyback programme, which can support earnings per share and signals management confidence in the business. Jet2 Launches £250 Million Share Buyback Programme
• Positive Sentiment: The company also highlighted expansion plans, including new routes and growth at Gatwick and other airports, which points to further capacity and revenue growth ahead. Jet2 Delivers Record Passenger Volumes and Unveils £250m Buyback Amid Gatwick Expansion
• Neutral Sentiment: Jet2 issued multiple travel updates and route announcements, reinforcing that bookings and customer activity remain active, but these were mostly informational and not material new financial news. Jet2 issues major Wednesday, July 8 bookings update
• Neutral Sentiment: Canaccord Genuity lowered its price target to GBX 1,750 from GBX 1,900, but kept a “buy” rating, so the note is mixed rather than clearly negative. Broker views

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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