Hold on tight to Easyjet shares, says Charles Stanley

18th Nov 2014 12:37

Charles Stanley is telling investors to keep shares in Easyjet after the budget carrier failed to upgrade its profit forecasts.The Luton-based airline on Tuesday posted record annual profits for the fourth year in a row and proposed a dividend rise of more than a third, although it cautioned that investment would lead to flat revenue per seat in the first half of 2015.Charles Stanley said the results were good and predicted that the airline, led by chief executive Carolyn McCall, should keep producing sustainable returns and growth.But the broker added: "Given the increasingly competitive market, there is no upgrade to profit estimates which may disappoint some. We maintain our recommendation at 'hold'."Shares in Easyjet fell 15p or 1% to 1,529p at 12:50 in London.