Analyst James Wheatcroft of Jefferies maintained a Buy rating on Jet2 PLC, retaining the price target of p2,100.00.
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James Wheatcroft’s rating is based on a combination of factors that highlight Jet2 PLC’s strategic positioning and financial outlook. The company’s decision to invest in a new base at Gatwick is expected to slightly impact earnings in the short term, but it underscores their commitment to long-term growth. This strategic move is anticipated to reach profitability by FY29, demonstrating a forward-thinking approach.
Furthermore, Jet2’s financial performance shows resilience, with a modest increase in revenues and earnings before interest and taxes (EBIT). The company’s share buyback program and increased interim dividend reflect confidence in its financial health. Despite some short-term challenges, such as softer flight-only prices, the overall guidance aligns with market expectations, providing reassurance to investors and supporting the Buy rating.
According to TipRanks, Wheatcroft is a 4-star analyst with an average return of 5.1% and a 44.84% success rate. Wheatcroft covers the Consumer Cyclical sector, focusing on stocks such as Flutter Entertainment PLC, Jet2 PLC, and The Gym.
In another report released on November 12, Canaccord Genuity also reiterated a Buy rating on the stock with a p2,250.00 price target.