Canaccord Genuity Group Cuts Jet2 (LON:JET2) Price Target to GBX 1,750

Jet2 (LON:JET2) had its price target decreased by Canaccord Genuity Group from GBX 1,900 to GBX 1,750 in a report issued on Wednesday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 16.21% from the stock’s previous close.

A number of other brokerages also recently issued reports on JET2. UBS Group reissued a “buy” rating and issued a GBX 1,660 price target on shares of Jet2 in a report on Friday, July 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,800 target price on shares of Jet2 in a research report on Wednesday, April 29th. JPMorgan Chase & Co. dropped 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. Royal Bank Of Canada reduced their price target on shares of Jet2 from GBX 2,000 to GBX 1,800 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft lowered 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. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,623.86.

Jet2 Stock Performance

LON JET2 traded up GBX 149.86 during trading hours on Wednesday, reaching GBX 1,505.86. 11,921,789 shares of the company were exchanged, compared to its average volume of 3,178,704. The business’s 50 day simple moving average is GBX 1,212.62 and its 200-day simple moving average is GBX 1,232.48. The company has a quick ratio of 1.49, a current ratio of 1.40 and a debt-to-equity ratio of 61.57. Jet2 has a 1 year low of GBX 980 and a 1 year high of GBX 1,855. The stock has a market capitalization of £2.72 billion, a P/E ratio of 6.43, a P/E/G ratio of 9.34 and a beta of 1.16.

Jet2 (LON:JET2) last posted its quarterly earnings data 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%. On average, equities research analysts expect that Jet2 will post 170.9134615 earnings per share for the current year.

Jet2 News Summary

Here are the key news stories impacting Jet2 this week:

• Positive Sentiment: Jet2 said summer bookings are up 7%, suggesting resilient travel demand even with Middle East tensions in the background. UK’s Jet2 says summer bookings rise 7% as Middle East tensions ease
• Positive Sentiment: The company reported record passenger numbers and revenue, and said it is expanding into Gatwick and adding new destinations, which supports growth expectations. Jet2 reports record passenger numbers and revenue as it expands into Gatwick
• Positive Sentiment: Jet2 launched a £250 million share buyback programme, a sign management sees value in the stock and a potential boost to shareholder returns. Jet2 Launches £250 Million Share Buyback Programme
• Neutral Sentiment: Additional coverage noted that Jet2’s bookings have gained momentum and that holiday demand improved after US-Iran peace talks, reinforcing the same positive travel-demand theme. Jet2 jumps as summer bookings gain momentum despite Middle East conflict
• Neutral Sentiment: Jet2 also announced earnings with EPS of GBX 211.20 and strong margins, which helps confirm the company’s solid financial footing. UK’s Jet2 says summer bookings rise 7% as Middle East tensions ease
• Negative Sentiment: One report highlighted that Jet2 benefited from a jet-fuel price spike tied to the Iran conflict, which could reverse if fuel costs normalize and may not be a lasting tailwind. Jet2 took £400m boost from Iran war jet fuel spike

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.