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Cantor Fitzgerald has upgraded to “buy” from “hold”, raising the target price to 1,600p from 1,500p. Cantor thinks it is a good time to buy as the stock was weak in the summer like the rest of the sector, and Cantor also calculates easyjet can pay another special dividend in early 2015.
UBS has initiated with a “buy” rating, with the target price set at 80p. The broker thinks while the shift in the company’s business model from up-front licensing to a subscription system may limit short-term growth, it will increase long-term value, and is well positioned to partner banks.
Deutsche Bank has upgraded to “buy” from “hold”, with the target price raised to 2,790p from 2,270p. The broker upgraded its rating and forecasts after recent rail franchise contract wins, and thinks if there is a new target for the bus division it could be a key driver of long-term value.