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Morgan Stanley upgrades Easyjet, Wizz Air and Ryanair

Tue 14 January 2020 11:25 | A A A

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(Sharecast News) - Analysts at Morgan Stanley upgraded their recommendations for EasyJet, Wizz Air and Ryanair and revised their target prices for all three budget carriers in expectation of a "tighter" supply/demand balance in the sector.

Their recommendations for Easyjet and Wizz Air was lifted from 'equalweight' to 'overweight' and that for Ryanair from 'underweight' to 'equalweight'.

In parallel, their target prices for those three companies' shares went up from 1,000.0p to 1,800.0p, from 3,700.0p to 4,900.0p and from €9.0 to €16.0.

Over the course of 2020, higher yields would offset cost inflation, the analysts said.

Within the same note, the broker also expressed a preference for shares of Air France-KLM versus those of Lufthansa.

-- More to follow --

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