Oddo BHF has reiterated its 'outperform' rating on easyJet, with a target price raised from 660 to 670 pence, following the British airline's satisfactory first-quarter results.

Highlighting a good performance in unit costs and Holidays over this period, and a confident tone for the second quarter and the summer season, the research firm is raising its pre-tax profit estimates by 6% for the current financial year.

"easyJet will benefit from a favorable pricing environment thanks to solid demand and capacity discipline on intra-European routes. Opportunities in ancillary revenues and Holidays are credible, with significant leverage on profitability", the analyst believes.

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