Frontier Group assumed with a Neutral at UBS

UBS assumed coverage of Frontier Group (ULCC) with a Neutral rating with a price target of $4, up from $3.50. There is a “good chance” that Frontier reports Q2 in-line with its outlook, the analyst tells investors in a research note. Frontier will need to provide evidence of a strong improvement in Q3 RASM growth year over year for the market to get confidence that second half profit is achievable, the firm argues.