Close to 50% in a month, what's next for the easyJet share price?

Close to 50% recovery in a month has investors pondering the next move for easyJet's share price. By May 18, the stock had fallen 37% from its January peak before rebounding about 25% following takeover chatter from Castlelake on May 29. The board has said there have been no discussions or approaches from Castlelake. On a forward basis, the stock trades at a price-to-earnings ratio around 11.7, versus 14.4 for Wizz Air and 8.6 for International Consolidated Airlines Group, suggesting the stock isn't attractively cheap on a relative basis. Analysts’ price targets have ranged, with a bullish case near 574p and a more conservative target around 448p, leaving ambiguity on the near-term path.