MARKET TALK: JPMorgan Downgrades EasyJet, Ryanair To Neutral

22nd Jun 2010 07:02

0602 GMT [Dow Jones] JPMorgan Cazenove downgrades EasyJet (EZJ.LN) and Ryanair (RYA.DB) to neutral from overweight as it takes a look at the airline sector. EasyJet's share price performance is being overshadowed by Stelios's disagreements with the board over strategy, says GS. Until these issues are resolved permanently, the share performance is likely to remain muted. Where Ryanair is concerned, the brokerage says it remains one of its favorite picks for the medium term. However, in the short term, relative share price performance risks are being eclipsed by a recovery in the flag carriers. EasyJet shares closed Monday at 426p, Ryanair at EUR3.67.([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 22, 2010 02:02 ET (06:02 GMT)