Deutsche Bank upgraded Frontier Group (ULCC) to Buy from Hold with a price target of $8, up from $4. The firm views Frontier as best positioned to be the biggest beneficiary of Spirit’s bankruptcy given their network overlap. It says 35% of Frontier’s network overlaps with Spirit for the September quarter. The overlap should increase to 40% by the December quarter following Frontier’s recent announcement to add 20 new routes beginning later this year, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ULCC:
- Spirit Airlines (FLYY) Files Chapter 11 Bankruptcy for Second Time in a Year
- Dell reports ‘beat and raise,’ Caterpillar sees big tariff impacts: Morning Buzz
- Spirit execs meet with Frontier, discuss rebuilding efforts, Bloomberg says
- Short Report: Clear Secure bears cover as strong guidance lifts shares
- Frontier Group Holdings: Hold Rating Maintained Amid Mixed Financial Signals and EPS Revisions