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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

RBC Capital Markets initiates coverage on Jet2 at 'outperform'

(Sharecast News) - Analysts at RBC Capital Markets initiated coverage on tour operator Jet2 at 'outperform' on Friday, citing shareholder upside from a customer-first proposition. RBC said its 1,950.0p price target implied a 30% upside to the UK's leading tour operator and major airline, an integrated model it added has produced "a sector-leading" return on invested capital and customer experience.

"Despite strong credentials for growth and value creation, Jet2 trades on the cheapest EV valuation multiples in our transport coverage," said the Canadian bank.

"We expect Jet2 to benefit from an encouraging outlook for UK travel demand, and see upside to consensus expectations."

Reporting by Iain Gilbert at Sharecast.com

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