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easyJet plc : Continuation of the bullish trend

12/06/2012 | 03:33am
Opinion : Bullish above GBp 619.5
Target price : GBp 818.53
Stop loss: GBp 669

EasyJet plc is trading in a bullish trend and several arguments argue for the continuation of this trend.

The company shows strong fundamentals. Firstly, the security is undervalued compared to its peers with an EV/Sales ratio estimated at 0.68 by the Thomson Reuters consensus for this year. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.

Technically, the security is in an uptrend on all time scales and it is supported by moving averages. The bullish trend will not be stopped until prices are above the GBp 682 short term support. This trend should allow the stock to reach its GBp 856.3 long term resistance, which will be the first target price.

According to both technical and fundamental elements, it seems opportune to take a long position at the current price. The bullish trend should allow the security to reach the GBp 856.31 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under the GBp 682 short term support to avoid a downtrend.

easyJet plc : easyJet plc : Continuation of the bullish trend

© 2012

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Financial Ratios

Size 2015e 2016e
Capitalization 6 880 M GBP -
Entreprise Value (EV) 6 560 M GBP 6 533 M GBP
Valuation 2015e 2016e
PER (Price / EPS) 13,3x 11,6x
Capitalization / Revenue 1,45x 1,37x
EV / Revenue 1,38x 1,30x
EV / EBITDA 8,25x 7,29x
Yield (DPS / Price) 3,35% 3,47%
Price to book (Price / BVPS) 2,76x 2,41x
Profitability 2015e 2016e
Operating Margin (EBIT / Sales) 13,8% 14,9%
operating Leverage (Delta EBIT / Delta Sales) 2,61x 2,44x
Net Margin (Net Profit / Revenue) 11,0% 11,7%
ROA (Net Profit / Asset) 10,7% 11,1%
ROE (Net Profit / Equities) 21,6% 21,6%
Rate of Dividend 44,5% 40,1%
Balance Sheet Analysis 2015e 2016e
CAPEX / Sales   10,5% 10,4%
Cash Flow / Sales (Taux d'autofinancement) 13,8% 14,6%
Capital Intensity (Assets / Sales) 1,02x 1,06x
Financial Leverage (Net Debt / EBITDA) -0,40x -0,39x
Income Statement Evolution
More Financials
EPS Revisions
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