Alaska Air price target raised to $55 from $42.50 at BMO Capital

BMO Capital raised the firm’s price target on Alaska Air (ALK) to $55 from $42.50 and keeps an Outperform rating on the shares after its Q1 earnings beat. Macro remains volatile but the firm is encouraged by the management’s progress against strategic initiatives, the analyst tells investors in a research note. BMO sees a more constructive setup into the second half of the year and over the long term, with a runway that includes international expansion, loyalty and co-brand card growth, and revenue management modernization, the firm added.