Alaska Air upgraded to Outperform from Market Perform at Raymond James

Raymond James upgraded Alaska Air (ALK) to Outperform from Market Perform with a $70 price target The airline’s current demand and competitive capacity trends increase conviction in earnings forecasts, the analyst tells investors in a research note. The firm sees an attractive risk/reward at current share levels. Raymond James remains concerned about the increased complexity of Alaska Air’s business model, but not has a greater appreciation of the company’s “measured approach to taking on this risk.”