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18 Jun, 2021 09:29 18 Jun, 2021 13:11

HSBC upgrades European low-cost carriers

ep avion de easyjet
Avión de easyJet.AIRBUS

HSBC upgraded its stance on low-cost carriers easyJet, Wizz Air and Ryanair on Friday, saying it is now more optimistic about the reopening of travel across Europe than it has been this year.

The bank lifted easyJet and Ryanair to ‘buy’ from ‘hold’, while Wizz was upgraded to ‘hold’ from ‘reduce’. The target prices were upped to 1,200p from 1,000p, €19 from €16.75 and 4,500p from 4,000p, respectively.

HSBC pointed to the fact that the EU has now agreed the Digital Covid Certificate to facilitate travel within the EU.

"The EU is also opening up to visitors from outside the EU, subject to vaccinations or testing. Whilst UK policy is not easily predicted, we expect UK travel restrictions to ease. We think the US may soon rescind its Executive Order banning UK and EU travellers entering the US.

"We see the EU moving fast to reopen the US-EU market. This could prompt the opening of the US-UK market. Once the US is defined as a green territory under the UK traffic light system, we would see pressure to open European destinations."


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Important Legal Notice about News Sources

Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.