Deutsche Bank upgraded easyJet to hold from sell on Wednesday. Analysts significantly raised the price target to 540p from 340p.
US private credit firm Castlelake L.P. acquired a 2.14% stake in the airline. Deutsche Bank suggests the takeover interest is credible, citing Castlelake’s previous successful investment and exit from SAS.
easyJet management described the potential bid as highly opportunistic. Analysts noted the airline's valuation remains low even without a takeover. Any transaction faces regulatory hurdles, as EU rules require airlines to be majority-owned by regional investors.