UBS reaffirms its 'buy' recommendation on easyJet and its price target of 820 pence, a target implying 61% upside potential for the stock, the day after the British airline's quarterly publication.

"Losses for the first quarter of 2024 and forecasts for the first half of the financial year turned out better than expected, and we expect the share to be supported by the results", says the broker.

UBS adjusts its forecasts for the low-cost airline after its business update, resulting in an increase in its estimated EPS for the 2024 and 2025 financial years of around 6% and 4% respectively.

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