Jet2 (JET2)

Sector:

Commercial Transport

Index:

FTSE AIM 50

1,264.00p
   
  • Change Today:
    -16.00p
  • 52 Week High: 1,519.00
  • 52 Week Low: 991.50
  • Currency: UK Pounds
  • Shares Issued: 214.68m
  • Volume: 325,888
  • Market Cap: £2,713.57m

RBC Capital lifts Jet2 price target

By Michele Maatouk

Date: Thursday 25 Apr 2024

LONDON (ShareCast) - (Sharecast News) - RBC Capital Markets lifted its price target on Jet2 on Thursday to 2,000p from 1,950p following the company's trading statement a day earlier.
The bank said it was making minor changes to profitability forecasts and incorporating Jet2's FY24 gross cash position of around £2.3bn, which was ahead of its previous expectations of £3bn.

This drives the increase in the price target, it said.

"The modest increase in our PT is more notable in the context of Jet2's share price decline yesterday," it said.

RBC noted the shares fell after the trading statement, with commentary on summer 2024 pricing prompting concern.

Jet2 said in the statement that booked to date pricing for Summer 2024 was showing a modest increase, although recently, pricing has been more competitive, particularly for April and May departures.

But RBC said it wasn't concerned by the summer 2024 pricing commentary and that its FY24/25 holiday/ticket yield forecasts up around 2.5%/2.7% are not significantly changed.

It also said the valuation remains attractive.

"Considering valuation on an average of the EV with and without deferred revenues, Jet2 trades on circa 4x 24/25 EV/ EBIT below easyJet on circa 6.2x 24/25 EV/EBIT (on the same basis) on our forecasts, both at a discount to European ultra-low cost carriers," it said.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Jet2 Market Data

Currency UK Pounds
Share Price 1,264.00p
Change Today -16.00p
% Change -1.25 %
52 Week High 1,519.00
52 Week Low 991.50
Volume 325,888
Shares Issued 214.68m
Market Cap £2,713.57m

Jet2 Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
2.63% below the market average2.63% below the market average2.63% below the market average2.63% below the market average2.63% below the market average
63.64% below the sector average63.64% below the sector average63.64% below the sector average63.64% below the sector average63.64% below the sector average
Price Trend
47.04% above the market average47.04% above the market average47.04% above the market average47.04% above the market average47.04% above the market average
23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average
Income
55.67% below the market average55.67% below the market average55.67% below the market average55.67% below the market average55.67% below the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Growth
63.86% above the market average63.86% above the market average63.86% above the market average63.86% above the market average63.86% above the market average
84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average

What The Brokers Say

Strong Buy 7
Buy 8
Neutral 1
Sell 0
Strong Sell 0
Total 16
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Jet2 Dividends

  Latest Previous
  Interim Final
Ex-Div 28-Dec-23 21-Sep-23
Paid 02-Feb-24 25-Oct-23
Amount 4.00p 8.00p

Trades for 14-Jun-2024

Time Volume / Share Price
16:35 104,039 @ 1,264.00p
16:35 77 @ 1,264.00p
16:35 45 @ 1,264.00p
16:35 514 @ 1,264.00p
16:35 3,042 @ 1,264.00p

Jet2 Key Personnel

CEO Stephen Heapy

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