Allegiant Travel price target lowered to $83 from $85 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Allegiant Travel (ALGT) to $83 from $85 and keeps an Equal Weight rating on the shares. The “relatively calm” Q2 will be seen as a much better outcome than feared given the conditions of February and March, says the analyst, who adds in a preview for the group that “danger may lurk” below the relatively calm surface as all airline management teams made clear during conference season that domestic revenue per available seat mile remains challenging.