easyjet6 Jan 2023 07:43
easyJetWhat it does: easyJet is a British multinational low-cost airline group. It operates domestic and international services on almost a thousand routes across Europe.1MBy John Choong. easyJet (LSE: EZJ) shares are trading below their pandemic lows while passenger numbers are higher than that period. For that reason, its shares are trading on an absolute bargain, in my opinion, and here’s why.The group’s operational performance continues to improve and its Holidays segment is also growing at a rapid pace. Meanwhile, forward bookings are proving strong going into the summer. As such, management is expecting better yields for the year ahead. This should all help its top line. At the same time, its bottom line is expected to improve as the price of oil continues to fall. With more refineries coming online, jet fuel should follow in tandem.As a result, Peel Hunt rates the stock a ‘buy’ with a price target of £5.50, presenting it with a 45% potential upside. Therefore, I’ll be adding these growth shares to my portfolio when I’ve got more spare cash.John Choong has no position in easyJet or Peel Hunt.This is on motley fool