James Wheatcroft, an analyst from Jefferies, maintained the Buy rating on Jet2 PLC. The associated price target is p2,100.00.
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James Wheatcroft has given his Buy rating due to a combination of factors that highlight Jet2 PLC’s strategic growth potential. The company’s decision to establish a new base at Gatwick Airport, a major hub in the south of England, is a significant move. Gatwick’s large catchment area and status as a leading leisure destination airport provide Jet2 with a promising opportunity to expand its market presence.
Furthermore, the anticipated expansion aligns with Jet2’s medium-term fleet growth plans, and the potential development of a second runway at Gatwick could further enhance opportunities for the company. Although initial start-up costs and expected first-year losses are projected, these are seen as investments towards establishing a foothold in a competitive market. The absence of comments on current trading suggests confidence in meeting consensus expectations, reinforcing the positive outlook for Jet2’s future performance.