Equity Research
EasyJet Equity Research
JEME Capital is pleased to present our latest Equity Research on EasyJet, offering an in-depth analysis of the airline's strategic evolution, competitive positioning, and financial outlook.
Research Note
JEME Capital Research
- Date
- March 18, 2025
- Coverage
- Initiation
- Sector
- Airlines / Transportation
Rating
Buy
Executive Summary
Executive Summary
JEME Capital is pleased to present our latest Equity Research on EasyJet, offering an in-depth analysis of the airline's strategic evolution and financial outlook. EasyJet Holidays is emerging as a key business driver, targeting an ambitious £250m pre-tax profit. The company is simultaneously expanding its network with new bases in the UK and Italy.
Our analysis positions EasyJet in the space between ultra-low-cost carriers and premium airlines. We establish a target price of GBp 669 per share, reflecting strong fundamentals and the underappreciated value of EasyJet Holidays.
Key Highlights
Investment Thesis
01
EasyJet Holidays Growth
The holiday package business targets £250m pre-tax profit, representing one of the most compelling growth levers within the group — a differentiated, higher-margin business with significant runway.
02
Network Expansion
New UK and Italian bases strengthen competitive positioning, enabling capacity expansion in high-demand leisure markets while reinforcing EasyJet's place between ultra-low-cost and full-service carriers.
03
GBp 669 Target Price
Our DCF and comparable analysis supports a target price of GBp 669 per share, reflecting a constructive view on the airline's strategic transformation and the value embedded in its holiday segment.
Investment Snapshot
Investment Snapshot
Buy
Rating
GBp 669
Target Price
Airlines
Sector
London SE
Exchange
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