Just a heads-up for any traders out there. Easyjet seems to be bouncing back after its 20% fall during the week.

MM's seem to be walking the price up.

Right now we have EZJ Bid: 608.5p Offer: 609p Change: 11, was up 13 a few minutes back.

Ample weekend article....

Tuesday 20 November

Is easyJet (EZJ) flying high? Investors will find out when it reports its full-year results on Tuesday.

Recent news: The budget airline recently upgraded its pre-tax profits guidance range for the year ending September 2012 to between £310 million and £320 million.

Analysts' expectations: Panmure Gordon's Gert Zonneveld is forecasting revenues of c. £3.9 billion, up 12%, driven by a combination of 7% volume growth and 5% yield growth. EasyJet carried 58.4 million passengers in 2011/12.

Despite fuel costs rising by an estimated £236 million, he is expecting operating profit to rise by 29%. Pre-tax profits are expected to be up 29% to £319 million, with a 24% rise in dividends.

"Despite a challenging economic environment, and most likely a cautious outlook statement, we believe that the long-term prospects of this business remain exciting and we retain our 'buy' recommendation," Zonneveld states

EZJ EASYJET

Brokers with BUY recommendations on EZJ

Date Company Name Broker Rec. Price Old target price New target price Notes

19 Nov easyJet PLC UBS Buy 650.00 680.00 680.00 Reiterates
16 Nov easyJet PLC Morgan Stanley Overweight 650.00 670.00 670.00 Retains
16 Nov easyJet PLC Panmure Gordon Buy 650.00 750.00 750.00 Retains
13 Nov easyJet PLC Numis Add 650.00 680.00 680.00 Reiterates
09 Nov easyJet PLC Credit Suisse Outperform 650.00 653.00 653.00 Reiterates
31 Oct easyJet PLC Deutsche Bank Buy 650.00 745.00 745.00 Reiterates
26 Oct easyJet PLC Numis Add 650.00 680.00 680.00 Reiterates
12 Oct easyJet PLC RBC Capital Markets Sector Performer 650.00 - 670.00 Initiates/Starts
09 Oct easyJet PLC Investec Buy 650.00 670.00 690.00 Retains

EasyJet Sees Business-Credentials Boost on Moscow, Rome

By Kari Lundgren - Nov 16, 2012 12:01 AM GMT ..EasyJet Plc (EZJ)’s success in securing rights to link London with Moscow and Milan with Rome represents a breakthrough for its plan to win more business travelers, Chief Executive Officer Carolyn McCall said.

EasyJet was chosen by the U.K. Civil Aviation Authority to operate Moscow flights on Oct. 25, edging out Richard Branson’s Virgin Atlantic Airways Ltd., before being selected by the Italian authorities to end Alitalia SpA’s monopoly on services from Milan Linate to Rome Fiumicino a day later.

EasyJet Plc Chief Executive Officer Carolyn McCall said, “Moscow is a business route and I think a few years ago we wouldn’t have got it because we weren’t perceived to be looking after passengers or really strong on business. And to get Linate-Fiumicino, the main business route in Italy, cannot be underestimated.”

EasyJet CEO Sees Business-Credentials Boost on Moscow, Rome Wins Simon Dawson/Bloomberg
Starting in the first half of next year, EasyJet will serve Moscow’s Domodedovo hub and aims to carry more than 230,000 passengers in the first 12 months of operations.

Starting in the first half of next year, EasyJet will serve Moscow’s Domodedovo hub and aims to carry more than 230,000 passengers in the first 12 months of operations. Photographer: Simon Dawson/Bloomberg
.“The transformational aspect is about how EasyJet is seen, the credibility,” McCall said in an interview. “Moscow is a business route and I think a few years ago we wouldn’t have got it because we weren’t perceived to be looking after passengers or really strong on business. And to get Linate-Fiumicino, the main business route in Italy, cannot be underestimated.”

While ranked second to Ryanair Holdings Plc (RYA) among Europe’s low-cost airlines, EasyJet has dropped its early no-frills approach in favor of a model where passengers can opt to pay extra for everything from food and checked bags to lounge access and flexible tickets. The Luton, England-based carrier is seeking a bigger share of the lucrative corporate-travel sector just as network carriers including IAG SA and Deutsche Lufthansa AG (LHA) recast their short-haul operations along low-cost lines.

Stock Boost
Shares of EasyJet, which was founded in 1995 with the slogan “making flying as affordable as a pair of jeans,” have surged 62 percent this year for a market value of 2.53 billion pounds ($4 billion). Dublin-based Ryanair has advanced 33 percent and is worth 6.66 billion euros ($8.5 billion).

“For us to get both in one week reinforced all the things we’ve been doing over the last two years in positioning the brand,” McCall said of the Moscow and Italy victories.

EasyJet was selected to compete with British Airways on the route to the Russian capital after offering a lead-in fare of 125 pounds and undertaking to operate two flights a day from London Gatwick airport, where it’s the biggest operator.

Starting in the first half of next year, EasyJet will serve Moscow’s Domodedovo hub using 180-seat Airbus SAS A320 single- aisle planes, and aims to carry more than 230,000 passengers in the first 12 months of operations.

The new route could also create opportunities to link with long-haul flights following a deal last week allowing passengers at Dubai-based Emirates, the world’s biggest international airline, to use their air miles to book EasyJet tickets.

Moscow Points
Russians traveling from Moscow to the Gulf on a route to be served by an Airbus A380 superjumbo from Dec. 1 would accrue enough points to fly to London with EasyJet for free, Emirates sales chief Thierry Antinori said in an interview on Nov. 6.

In Italy, EasyJet will offer five flights a day between Milan and Rome using Airbus A319 planes, opening up what McCall said has been Europe’s “last great monopoly route.”

Around 21 percent of EasyJet’s 57 million annual passengers are traveling for work, with destinations such as Amsterdam, Geneva and Paris drawing close to 30 percent business traffic.

“They’re going ever-further in competing with the network carriers,” said Douglas McNeill, an analyst at Charles Stanley in London with a “hold” rating on EasyJet. “It tends to make you think the low-cost model is more multifaceted.”

Ryanair CEO Michael O’Leary said last week that EasyJet under McCall is as much a challenger to British Airways as his own airline, and that undercutting fares at the unit of International Consolidated Airlines Group SA (IAG) by as much as 30 percent represents “a very good medium-term strategy.”

EasyJet has also done “a good job” in targeting longer routes to countries such as Egypt, Israel, Jordan and Iceland, as well as Russia, the Irishman said at a Nov. 5 press briefing.

McCall has said four-hour flight times aren’t a departure from her company’s core strategy. The airline last year carried 5.7 million people on flights above three hours, more than the 5.4 million that long-haul specialist Virgin Atlantic attracted across the whole of its network in the 12 months ended Feb. 29.

EasyJet will post earnings figures for the year ended Sept. 30 on Nov. 20.

To contact the reporter on this story: Kari Lundgren in London at klundgren2@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net

http://www.bloomberg.com/news/2012-11-16/easyjet-sees-business-credentials-boost-on-moscow-rome.html

EZJ EASYJET

Forward P/E of just over 10 to
2013 looks very cheap. Ryanair meanwhile
on a forward P/E of just over 13 to
2013.

It seems to me EZJ is significantly undervalued.

easyJet PLC

FORECASTS 2012 2013
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Panmure Gordon
16-11-12 BUY 319.00 62.60 13.00 372.00 74.90 16.00
Investec Securities
14-11-12 BUY 314.10 60.80 12.20 325.60 65.70 13.10
Numis Securities Ltd
14-11-12 ADD 320.00 55.40 10.50 336.60 56.70 10.50
Davy Stockbrokers
14-11-12 None 61.90 12.40 64.20 13.00
Westhouse Securities
08-11-12 BUY
Goodbody Stockbrokers [D]
11-10-12 BUY 63.55 59.09 71.42 24.39
Charles Stanley Securities
08-10-12 HOLD 212.80 37.03 7.18 224.90 38.98 7.41
NCB Stockbrokers Ltd
26-03-12 ACCU 48.68 46.51 49.44 10.07

2012 2013 Pre-tax
(£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 317.61 60.20 12.03 330.89 62.30 12.23
1 Month Change 32.00 5.50 1.15 18.15 2.55 0.29
3 Month Change 35.73 6.56 1.12 12.83 2.03 0.28

Notes to forecasts
D falg: Indicates flag refers to the special dividend


GROWTH
2011 (A) 2012 (E) 2013 (E)
Norm. EPS 73.12% 24.57% 3.49%
DPS % % 1.62%

INVESTMENT RATIOS
2011 (A) 2012 (E) 2013 (E)

EBITDA £359.00m £441.01m £479.31m
EBIT £269.00m £336.63m £340.74m
Dividend Yield % 1.88% 1.91%
Dividend Cover x 5.00x 5.10x
PER 13.26x 10.65x 10.29x
PEG 0.18f 0.43f 2.95f
Net Asset Value PS 281.29p 445.15p 493.45p


COMPETITOR

Ryanair Holdings PLC

FORECASTS 2013 2014
Date Rec Pre-tax (€) EPS (c) DPS (c) Pre-tax (€) EPS (c) DPS (c)
Panmure Gordon
16-11-12 BUY 585.00 36.50 670.00 41.90
Investec Securities
14-11-12 HOLD 563.40 35.00 34.00 631.60 39.00
Davy Stockbrokers
14-11-12 None 34.90 34.00 38.10
Goodbody Stockbrokers
11-10-12 BUY 32.15 34.12 34.81
NCB Stockbrokers Ltd
22-05-12 ACCU 34.00 33.00

2013 2014
Pre-tax (€) EPS (c) DPS (c) Pre-tax (€) EPS (c) DPS (c)

Consensus 574.11 34.94 34.02 650.64 38.56
1 Month Change 58.58 3.41 0.10 47.61 2.02
3 Month Change 58.93 3.01 0.26 48.26 0.89


GROWTH
2012 (A) 2013 (E) 2014 (E)
Norm. EPS 48.11% -6.17% 10.35%
DPS % % %

INVESTMENT RATIOS
2012 (A) 2013 (E) 2014 (E)
EBITDA €992.40m €947.43m €983.31m
EBIT €683.20m €635.09m €654.70m
Dividend Yield % 7.48% %
Dividend Cover x 1.03x x
PER 12.21x 13.01x 11.79x
PEG 0.25f -2.11f 1.14f
Net Asset Value PS 221.22p 263.57p 302.90p

Hemscott Premium.

Final Results

· easyJet has delivered improved returns for shareholders and growth in a challenging economic environment. Profit before tax was up by 27.9% to a record £317 million and pre-tax profit margins grew by 1 percentage point to 8.2% despite a £182 million increase in unit fuel costs. Return on Capital Employed excluding operating lease adjustment improved by 1.8 percentage points to 14.5% (while Return on Capital Employed including operating lease adjustment improved by 1.5 percentage points to 11.3%.)

· Total revenue per seat grew by 5.9% (7.5% at constant currency) to £58.51 driven by: improved load factors; the annualisation of changes to fees and charges made in 2011; the careful targeting of capacity to markets with the strongest returns potential; improvements to easyJet.com; the success of the 'Europe by easyJet' campaign and from capacity constraint in the market.

· Seats flown grew by 5.5% to 65.9 million, load factors increased by 1.4 percentage points to 88.7% and passenger numbers rose 7.1% to 58.4 million.

· Cost per seat excluding fuel fell by 1% for the full year (and grew by 1.8% at constant currency). Unit cost increases were driven by increased charges at regulated airports especially in Spain and Italy and higher load factors. Cost pressures were partially offset by shorter average sector lengths, the easyJet Lean programme delivering significant savings in ground handling and non-regulated airport charges, by the increased proportion of larger A320 aircraft in the fleet and by the exceptionally low levels of disruption in comparison to previous years.

· easyJet generated operating cash (excluding dividend payments) of £457 million in the year, an increase of 7.8% compared to the prior year.

· In light of the continued strong financial performance of easyJet and the confidence in easyJet's position within European short-haul aviation, the Board has decided to amend the dividend policy from this year to pay out one-third of profit after tax each year, up from the one-fifth payout introduced last year. As a result the recommended ordinary dividend is 21.5pence per share or £85 million.

· Earnings per share grew 19.0% to 62.5 pence per share.

WOW excelent results and an increased divi.

EZJ EASYJET

Excelent results and beats concensous
figure expected below...

Year Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield
30-Sep-12 3,876.76 315.81 59.33p 11.0 0.8 +13% 12.01p 1.9%

Digital Look



Strategy continues to deliver record profits, growth in profit margins and improved returns for shareholders

Results at a glance

2012
2011
Change

Total revenue (£ million)
3,854
3,452
+11.6%

Profit before tax (£ million)
317
248
+27.9%

Pre-tax margin (%)
8.2%
7.2%
+1.0ppt

Basic earnings per share (pence)
62.5
52.5
+19.0%

Proposed dividend - ordinary (pence per share)
21.5
10.5
+104.8%

Return on Capital Employed (%) - excluding operating leases adjustment
14.5%
12.7%
+1.8ppt

Return on Capital Employed (%) - including operating leases adjustment
11.3%
9.8%
+1.5ppt

Return on equity
14.6%
14.0%
+0.6ppt



· easyJet has delivered improved returns for shareholders and growth in a challenging economic environment. Profit before tax was up by 27.9% to a record £317 million and pre-tax profit margins grew by 1 percentage point to 8.2% despite a £182 million increase in unit fuel costs. Return on Capital Employed excluding operating lease adjustment improved by 1.8 percentage points to 14.5% (while Return on Capital Employed including operating lease adjustment improved by 1.5 percentage points to 11.3%.)

· Total revenue per seat grew by 5.9% (7.5% at constant currency) to £58.51 driven by: improved load factors; the annualisation of changes to fees and charges made in 2011; the careful targeting of capacity to markets with the strongest returns potential; improvements to easyJet.com; the success of the 'Europe by easyJet' campaign and from capacity constraint in the market.

· Seats flown grew by 5.5% to 65.9 million, load factors increased by 1.4 percentage points to 88.7% and passenger numbers rose 7.1% to 58.4 million.

· Cost per seat excluding fuel fell by 1% for the full year (and grew by 1.8% at constant currency). Unit cost increases were driven by increased charges at regulated airports especially in Spain and Italy and higher load factors. Cost pressures were partially offset by shorter average sector lengths, the easyJet Lean programme delivering significant savings in ground handling and non-regulated airport charges, by the increased proportion of larger A320 aircraft in the fleet and by the exceptionally low levels of disruption in comparison to previous years.

· easyJet generated operating cash (excluding dividend payments) of £457 million in the year, an increase of 7.8% compared to the prior year.

· In light of the continued strong financial performance of easyJet and the confidence in easyJet's position within European short-haul aviation, the Board has decided to amend the dividend policy from this year to pay out one-third of profit after tax each year, up from the one-fifth payout introduced last year. As a result the recommended ordinary dividend is 21.5pence per share or £85 million.

· Earnings per share grew 19.0% to 62.5 pence per

EasyJet full-year profit up 28 pct 20 Nov 2012 - 07:15

LONDON, Nov 20 (Reuters) - British low-cost airline easyJet posted a 28 percent rise in full-year profit, helped by a surge in late summer demand and bucking tough conditions elsewhere in the airline sector. Europe's second-largest budget airline after Ryanair on Tuesday reported a pretax profit of 317 million pounds ($504.46 million) on revenues 11.6 percent higher at 3.85 billion pounds for the year to the end of September. The company more than doubled its full year dividend to 21.5 pence and said it planned to amend the dividend policy from this year to pay out one-third of profit after tax each year, up from the one-fifth payout introduced last year. EasyJet, the largest carrier at London's Gatwick airport, said passenger numbers rose 7.1 percent to 58.4 million during the year, with load factors - a measure of how full its planes are - up 1.4 percentage points to 88.7 percent. ($1 = 0.6284 British pounds) (Reporting by Rhys Jones; editing by Sarah Young) ((r.jones@thomsonreuters.com; 44 (20) 7 542 4166; Reuters Messaging: rhysl.jones.thomsonreuters.com@reuters.net)) Keywords: EASYJET/

The company more than doubled its full year dividend to 21.5 pence and said it planned to amend the dividend policy from this year to pay out one-third of profit after tax each year, up from the one-fifth payout introduced last year.

UPDATE 1-EasyJet pledges higher dividend as profits jump20 Nov 2012 - 07:46

(Adds details) By Rhys Jones LONDON, Nov 20 (Reuters) - British low-cost airline easyJet pledged to pay a higher dividend on Tuesday after outperforming the sector with a 28 percent rise in full-year profit that was helped by a surge in late summer demand. Europe's second-largest budget airline after Ryanair reported a pretax profit of 317 million pounds ($504.46 million) on revenues 11.6 percent higher at 3.85 billion pounds for the year to the end of September. In October easyJet had said it was expecting to report an annual pretax profit of between 310 million and 320 million pounds. [ID:nL6E8L317Q] Luton, southern England-based easyJet more than doubled its full year dividend to 21.5 pence from 10.5 pence and announced plans to increase future handouts to shareholders. "In light of the continued strong financial performance of easyJet and the confidence in easyJet's position within European short-haul aviation, the board has decided to amend the dividend policy from this year," said Carolyn McCall, who has helped double the airline's profits since she took over as chief executive in July 2010. The group will seek "to pay out one-third of profit after tax each year, up from the one-fifth payout introduced last year." EasyJet's strong performance bucks tough conditions elsewhere in the airline sector where several carriers have been hit by a toxic mix of high fuel costs, weak consumer confidence and the eurozone crisis. Earlier this month IAG’s Spanish airline Iberia announced plans to axe almost a quarter of its workforce and rationalise its network under a restructuring plan, while Germany’s Lufthansa, which has already slashed hundreds of jobs, said it would step-up cost-cuts to counter rising fuel prices and limited growth in its core market. [ID:nL5E8M92G7] [ID:nL5E8MD5MB] Since the start of the year airlines including loss-making Spanair and Hungarian flag-carrier Malev [MALV.UL] have ceased operations, leaving gaps in the market that low-cost competitors have been quick to exploit. [ID:nL5E8D30IC] EasyJet, the largest carrier at London's Gatwick airport, said a strong rise in summer bookings from Britain to Malaga and Alicante in Spain and Faro in Portugal had helped, while it also increased the number of flights between top business destinations during the year. The carrier said passenger numbers rose 7.1 percent to 58.4 million during the year, with load factors - a measure of how full its planes are - up 1.4 percentage points to 88.7 percent. The airline, which will fly between London, Manchester and Moscow from next year, said its profit margins grew by 1 percentage point to 8.2 percent during the year, despite a 182 million pound increase in its fuel costs. It expects its fuel bill to be around 30 million pounds higher in 2012/13. ($1 = 0.6284 British pounds) (Reporting by Rhys Jones; editing by Sarah Young and Kate Holton) ((r.jones@thomsonreuters.com)(44)(20)(7 542 4166)(Reuters Messaging: rhysl.jones.thomsonreuters.com@reuters.net)) Keywords: EASYJET/

20 Nov easyJet PLC EZJ Deutsche Bank Buy 0.00 652.50 745.00 745.00 Reiterates

http://www.stockmarketwire.com/article/4487768/easyJet-beats-estimates-with-record-full-year-pretax-profit.html

BRIEF-EasyJet shares open 2 pct up after rise in FY profit20 Nov 2012 - 08:02

LONDON, Nov 20 (Reuters) - easyJet plc : * Shares open 2 percent higher after it posts a 28 percent rise in FY profit ((London Equities Newsroom; +44 20 7542 7717)) ((For more news, please click here [EZJ.L]))

Watch for Broker upgrades later
in the day......................

There will be an analyst presentation at 9:30 am on 20 November 2012 at Nomura, One Angel Lane, London, EC4R 3AB.

20 Nov easyJet PLC EZJ Investec Buy 679.75 652.50 690.00 740.00 Retains

20 Nov easyJet PLC EZJ Panmure Gordon Buy 679.75 652.50 750.00 750.00 Retains

Precogz Updates ‏@Precogz
#EZJ Easyjet wows City and doubles dividend - Proactiveinvestors

http://www.proactiveinvestors.co.uk/companies/news/50545/easyjet-wows-city-and-doubles-dividend--50545.html …

http://www.independent.co.uk/news/business/news/easyjet-profits-soar-to-317m-8334887.html

EZJ EASYJET

Brokers reporting today so far......

a lot more to come and I expect upgrades.

easyJet

Broker Views

Date Broker Recommendation Price Old target price New target price Notes

20 Nov Panmure Gordon Buy 695.75 750.00 750.00 Retains
20 Nov Investec Buy 695.75 690.00 740.00 Retains
20 Nov Deutsche Bank Buy 695.75 745.00 745.00 Reiterates

NORWICH & PETERBOROUGH BUILDING SOCIETY

City AM ‏@cityamonline
easyJet hikes dividend on higher profits

http://goo.gl/fb/0j9lg