easyJet plc·Industrials

easyJet PLC (LSE:EZJ) has emerged as the most compelling buy opportunity among European airline stocks following a broad sector sell-off, with its shares now trading close to the valuation lows last seen during the 2008 global financial crisis. The low-cost carrier's price-to-book ratio, a measure that compares a company's share price to the net value of its assets, has fallen to levels that historically have marked extreme stress points for the stock, suggesting much of the bad news is already reflected in the price.

Shares of easyjet PLC (OTCMKTS:EJTTF - Get Free Report) gapped down prior to trading on Friday. The stock had previously closed at $4.93, but opened at $4.62. easyjet shares last traded at $4.62, with a volume of 218 shares changing hands. Analysts Set New Price Targets Separately, Sanford C. Bernstein raised shares of easyjet

European airline chiefs are meeting in Brussels on Thursday under the cloud of war in the Middle East and rising oil prices, looking to push back against the EU's green agenda and what the industry says are cumbersome rules surrounding sustainable jet fuel.

Airline companies across Europe, including International Consolidated Airlines Group SA (LSE:IAG) and easyJet PLC (LSE:EZJ) in London, flew higher on Wednesday morning as investors continued to react to the back and forth of the Middle East conflict. Oil prices had softened but only very moderately, after a deal made by Iraq to transport oil across Turkey and avoid having to use the Strait of Hormuz.

Investors have been repositioning sharply across European airline stocks since the outbreak of Middle East hostilities, with Ryanair Holdings PLC (LSE:RYA) emerging as the clear defensive favourite while short positions have built against carriers more vulnerable to elevated fuel prices. This is Citi's analysis of positioning data from institutional investors, with the analysis showing that sector positioning has turned more negative over both the past week and month.

easyjet PLC (OTCMKTS:EJTTF - Get Free Report)'s stock price gapped down prior to trading on Friday. The stock had previously closed at $6.42, but opened at $5.92. easyjet shares last traded at $5.92, with a volume of 100 shares traded. Wall Street Analysts Forecast Growth Separately, Sanford C. Bernstein upgraded shares of easyjet from
easyJet plc operates as an airline carrier primarily in Europe. It also leases aircrafts, as well as operates tours; and provides financing services. As of September 31, 2021, the company operated 927 routes with approximately 308 aircrafts in 34 countries; and 153 airports. It sells seats through its own website www.easyjet.com and its 'easyJet Worldwide' platform, its mobile application, global distribution systems, corporate online booking tools, content aggregators, and tour operator. easyJet plc was founded in 1995 and is headquartered in Luton, the United Kingdom.
Industrials
Airlines, Airports & Air Services
17,797
2012-08-03
1.76