MARKET TALK: EasyJet Emerging Strongly From Downturn - Panmure

28th Jul 2010 07:56

0656 GMT [Dow Jones] EasyJet (EZJ.LN) is emerging strongly from the downturn with robust trading in terms of yields and load factors, says Panmure Gordon. "Cost reductions and yield improvements (helped by a stronger revenue environment and a reduction in capacity growth in the coming years) should allow EPS to rise strongly in the coming years," says Panmure. Adds the company has excellent growth prospects to justify a superior rating, but recognises that uncertainty regarding the easyJet brand license agreement and potentially the long term growth strategy is unhelpful. Retains buy recommendation, with 550p target price. Shares closed Tuesday at 434p. ([email protected] ) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 28, 2010 02:56 ET (06:56 GMT)