Airline stocks across Europe were impacted by a negative report on UK low fares carrier EasyJet, which slid to a seven-month low after Bank of America lowered its recommendation to underperform, citing a lack of earnings growth amid industry overcapacity.
EasyJet PLC shares were yanked 6.4% lower after Bank of America-Merrill Lynch cut its rating on the air carrier to underperform from neutral, saying negative yield momentum could end a cycle of consensus earnings per share upgrades. The shares led a downturn on U.K.’s FTSE 100, which lost 0.2% to 6,743.94.
IHE Ị GA-Ewepụ na edemede a:
- Airline stocks across Europe were impacted by a negative report on UK low fares carrier EasyJet, which slid to a seven-month low after Bank of America lowered its recommendation to underperform, citing a lack of earnings growth amid industry overcapacity.
- 4% lower after Bank of America-Merrill Lynch cut its rating on the air carrier to underperform from neutral, saying negative yield momentum could end a cycle of consensus earnings per share upgrades.
- The shares led a downturn on U.
