BofA analyst Andrew Didora raised the firm’s price target on Allegiant Travel (ALGT) to $55 from $50 and keeps an Underperform rating on the shares. In mid-September, Allegiant released commentary that indicated that demand had remained solid and was outperforming initial expectations, the analyst noted. The firm, which notes that its Q3 total revenue growth forecast of 2.3% is in line with consensus, sees a continuation of the positive demand trends for Allegiant in Q4.
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