Jet2 initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Jet2 with an Outperform rating and 1,950 GBp price target. Jet2 is the UK’s leading tour operator, and a major UK airline, the analyst tells investors in a research note. The firm says the company’s model has produced a sector-leading return on invested capital and customer experience while the shares trade on the cheapest valuation multiples in RBC’s transport coverage.