easyJet PLC (LON:EZJ) has been upgraded to ‘buy’ from ‘hold’ and its target price increased to 1,150p from 550p by analysts at Deutsche Bank, who said they expected the ultra-low and low-cost airlines to “emerge stronger” from the current crisis in the industry.
In a note on Friday, the bank said the FTSE 250 carrier was looking to build on changes that were afoot in the industry before the coronavirus pandemic, and as such, they saw “significant opportunities for the proposition and cost base to be improved”.
READ: easyJet to charge more to use overhead lockers
Deutsche Bank also said easyJet had “an attractive valuation” and that its revised target price implies upside of over 30%.
In late-morning trading easyJet shares rose 1.6% to 931.4p.