RBC and Liberum draw different conclusions from EasyJet results

(Sharecast News) - Analysts at RBC Capital Markets and Liberum both took a look at EasyJet after the budget airline's results on Tuesday, coming to slightly different conclusions about what the future holds for FTSE 100 constituent.The low-cost carrier's headline profit before tax for the year ended 30 September came to £578m as revenues grew 17% to £5.9bn. EasyJet had indicated in a detailed pre-close update group that profits would come in between £570m and £580m.Though it said EasyJet's next few months "will be bumpy", RBC reiterated its 'outperform' rating on the airline, noting that macro related fears regarding the UK's inevitable exit from the EU had been priced-in already.RBC, which also stood by its 1,600p target price, said: "We think the next few months will be bumpy but offer opportunities for longer-term investors. On PER, easyJet shares trade at 10x 2018/19E PER - close to a 'recession' PER multiple."Over at Liberum, the broker saw "no surprises" in EasyJet's full-year results as it reiterated its 'hold' rating and 1,250p target price.Unlike RBC, Liberum wasn't convinced the uncertainty faced by easyJet in the short-term had been factored in, with the outcome and implications of Brexit no clearer than two years ago, cost pressure from sterling weakness and the risk that fuel prices could reverse their recent declines and resume an upward path. easyJet