Alaska Air price target lowered to $65 from $68 at Raymond James

Raymond James lowered the firm’s price target on Alaska Air (ALK) to $65 from $68 and keeps an Outperform rating on the shares. Alaska has faced a series of setbacks since mid-September, from a Q3 guidance cut and refinery fire to a tech outage and macro-driven EPS pressure, leaving the stock under scrutiny, the analyst tells investors in a research note. While core fundamentals remain solid, sentiment has turned cautious, making Alaska a “show-me” story, Raymond James says.