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The latest update is out from Jet2 PLC ( (GB:JET2) ).
Jet2 plc announced the purchase of 170,000 ordinary shares as part of its buyback programme, with the intention to cancel these shares. This move is part of a strategic initiative to manage the company’s capital structure and could potentially enhance shareholder value by reducing the number of shares in circulation, thereby increasing the value of remaining shares.
The most recent analyst rating on (GB:JET2) stock is a Buy with a £1850.00 price target. To see the full list of analyst forecasts on Jet2 PLC stock, see the GB:JET2 Stock Forecast page.
Spark’s Take on GB:JET2 Stock
According to Spark, TipRanks’ AI Analyst, GB:JET2 is a Outperform.
Jet2 PLC demonstrates strong financial performance, supported by robust revenue and profitability growth, effective equity leverage, and strategic financial maneuvers like share buybacks. These strengths are somewhat offset by high liabilities and potential overbought technical indicators. The stock is undervalued, presenting an opportunity for investors, although caution is advised due to mixed technical signals.
To see Spark’s full report on GB:JET2 stock, click here.
More about Jet2 PLC
Jet2 plc is a Leisure Travel Group that includes Jet2holidays, the UK’s leading provider of ATOL protected package holidays to destinations across the Mediterranean, Canary Islands, and European Leisure Cities. It also operates Jet2.com, the UK’s third largest airline by passenger numbers, specializing in scheduled holiday flights. The company operates from 13 UK airport bases and in the financial year ending 31 March 2024, over 68% of its passengers opted for package holidays.
Average Trading Volume: 806,814
Technical Sentiment Signal: Buy
Current Market Cap: £3.37B
For a thorough assessment of JET2 stock, go to TipRanks’ Stock Analysis page.