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