Jet2 (LON:JET2) Price Target Lowered to GBX 1,750 at Canaccord Genuity Group

Jet2 (LON:JET2) had its price objective reduced by investment analysts at Canaccord Genuity Group from GBX 1,900 to GBX 1,750 in a research report issued on Wednesday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 16.21% from the company’s previous close.

JET2 has been the subject of a number of other reports. Jefferies Financial Group restated a “buy” rating and set a GBX 1,800 target price on shares of Jet2 in a research report on Wednesday, April 29th. Royal Bank Of Canada cut their price target on shares of Jet2 from GBX 2,000 to GBX 1,800 and set an “outperform” rating for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. reduced their target price on Jet2 from GBX 1,300 to GBX 1,200 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Jet2 from GBX 1,596 to GBX 1,457 and set a “buy” rating on the stock in a research report on Friday, March 20th. Finally, UBS Group reaffirmed a “buy” rating and set a GBX 1,660 price objective on shares of Jet2 in a research note on Friday, July 3rd. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 1,623.86.

Jet2 Stock Up 11.1%

Shares of JET2 stock traded up GBX 149.86 during trading hours on Wednesday, reaching GBX 1,505.86. 11,921,789 shares of the company’s stock were exchanged, compared to its average volume of 3,178,704. The company has a current ratio of 1.40, a quick ratio of 1.49 and a debt-to-equity ratio of 61.57. Jet2 has a 1 year low of GBX 980 and a 1 year high of GBX 1,855. The stock has a market cap of £2.72 billion, a PE ratio of 6.43, a PEG ratio of 9.34 and a beta of 1.16. The stock’s fifty day moving average price is GBX 1,212.62 and its two-hundred day moving average price is GBX 1,232.48.

Jet2 (LON:JET2) last posted its quarterly earnings data on Wednesday, July 8th. The company reported GBX 211.20 EPS for the quarter. Jet2 had a net margin of 6.11% and a return on equity of 24.73%. Research analysts predict that Jet2 will post 170.9134615 EPS for the current year.

Jet2 News Summary

Here are the key news stories impacting Jet2 this week:

• Positive Sentiment: Jet2 said summer bookings are up 7%, suggesting resilient travel demand even with Middle East tensions in the background. UK’s Jet2 says summer bookings rise 7% as Middle East tensions ease
• Positive Sentiment: The company reported record passenger numbers and revenue, and said it is expanding into Gatwick and adding new destinations, which supports growth expectations. Jet2 reports record passenger numbers and revenue as it expands into Gatwick
• Positive Sentiment: Jet2 launched a £250 million share buyback programme, a sign management sees value in the stock and a potential boost to shareholder returns. Jet2 Launches £250 Million Share Buyback Programme
• Neutral Sentiment: Additional coverage noted that Jet2’s bookings have gained momentum and that holiday demand improved after US-Iran peace talks, reinforcing the same positive travel-demand theme. Jet2 jumps as summer bookings gain momentum despite Middle East conflict
• Neutral Sentiment: Jet2 also announced earnings with EPS of GBX 211.20 and strong margins, which helps confirm the company’s solid financial footing. UK’s Jet2 says summer bookings rise 7% as Middle East tensions ease
• Negative Sentiment: One report highlighted that Jet2 benefited from a jet-fuel price spike tied to the Iran conflict, which could reverse if fuel costs normalize and may not be a lasting tailwind. Jet2 took £400m boost from Iran war jet fuel spike

About Jet2

Jet2 plc is a leading leisure travel group, specialising in friendly low fares from its award-winning airline, Jet2.com, and package holidays you can trust from the UK’s largest package holiday provider, Jet2holidays.
Jet2.com is the UK’s third largest airline, flying from 12 UK airports to over 70 destinations across Europe and beyond and Jet2holidays is the UK’s largest tour operator.