** easyJet gains 3.2 pct to 1,072 pence after CantorFitzgerald upgrades stock to "buy" from "hold"
** Analyst says concerns over trading and the impact ofBritain's vote to leave the EU, which have pushed the stock down40 percent in the year to date, are overdone
** Does not expect travel spend in the UK and across Europeto see a sharp downturn
** Says easyJet can use its financial strength to discountseats and build its market share
** Sees outlets for growth in easyJet's network, in the UKas well as Italy and other sunshine holiday destinations
** Broker lifts target price to 1,300 pence from 1,200 pence
** Consensus bearish easyJet view: StarMine's ARM model, ameasure of change in analyst sentiment, shows easyJet stronglyout of favour with sellside, scoring 1 out of the maximum 100 (RM: sarah.young.thomsonreuters.com@reuters.net)