easyJet shares downgraded on expected fall in fares
16.08.09
Credit Suisse cut its rating on easyJet to neutral from outperform, citing the 22% increase in its share price over the past month as well as the potential pressure on near-term ticket prices.
In particular, the bank expressed concern at the airline's plan to increase capacity by 10% this winter, because of its potential impact on fares. The report says: 'Whilst we believe that the shares are attractive over the long term, we take a cautious stance on the operating performance this winter.'
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