GERT ZONNEVELD | PANMURE GORDON
Forward bookings indicate a mid-single digit increase in seat revenue, but we are doubtful whether revenue increases can fully offset anticipated cost increases in the current year. But based on earnings forecasts we retain our “buy” recommendation and 450p target price.
PETER HYDE | LIBERUM CAPITAL
The Stelios situation should begin to ease. EasyJet has reduced expansion, introduced royalty and dividend payments and announced a return of capital. We see Stelios’ demands as good financial discipline. We see a positive revenue outlook for the next half.
KEITH BOWMAN | HARGREAVES LANSDOWN
On the downside, the group’s dispute with its founder provides an unwanted distraction, while uncertainty cloaking the economic outlook hinders both it and the broader stockmarket. However, with shareholder returns growing and the valuation still seen as attractive, market consensus opinion currently denotes a buy.