Alaska Air initiated with an Outperform at BMO Capital

BMO Capital initiated coverage of Alaska Air (ALK) with an Outperform rating and $50 price target The firm says that while visibility into immediate-term energy prices is limited, it sees a longer-term opportunity for profit improvement at Alaska Air. BMO sees upside as Alaska executes against its strategic framework, including integration of Hawaiian Airlines, reducing leverage, and transitioning into an international airline.