BofA analyst Andrew Didora lowered the firm’s price target on Frontier Group (ULCC) to $5.75 from $7 and keeps a Neutral rating on the shares. The firm lowered its Q1 loss per share estimate to (22c) from (4c) to account for the weaker revenue outlook while lowering our Q2 EPS to 10c from 24c due to lower capacity growth and the weak Q1 exit rate, the analyst tells investors. Frontier’s pre-announcement indicated Q1 revenues are expected to be up 5% compared to the carrier’s initial implied guidance of up in the mid-teens, the analyst noted.
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