UBS raised the firm’s price target on Allegiant Travel (ALGT) to $87 from $66 and keeps a Neutral rating on the shares. Allegiant has the potential to drive meaningful profit growth over the next few years as Sunseeker related drags are behind it and it can benefit from initiatives around Allegiant Xtra, and revamped navitaire booking tool, and while new MAX planes should be meaningfully profit accretive, these tailwinds are already largely reflected in estimates, the analyst tells investors in a research note.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALGT:
- Allegiant Travel upgraded to Buy from Hold at Deutsche Bank
- Allegiant Travel Amends Credit Agreement with Barclays
- Allegiant Air pilot union blocks bid to get residency for pilots, Reuters says
- Allegiant Travel initiated with a Neutral at Citi
- Allegiant Travel management to meet with Seaport Research