TD Cowen downgraded Sun Country Airlines (SNCY) to Hold from Buy with a price target of $18, down from $21. Shares look to be pricing in over 90% likelihood of merger approval with Allegiant (ALGT), as announced last month, and terms currently imply consideration of $18.47 per share takeout price, the analyst tells investors in a research note.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNCY:
- Intel upgraded, Domino’s downgraded: Wall Street’s top analyst calls
- Allegiant Travel upgraded at Wolfe Research after ‘transformational’ acquisition
- Sun Country downgraded to Peer Perform from Outperform at Wolfe Research
- Sun Country Airlines downgraded to Neutral from Overweight at JPMorgan
- Midday Fly By: Alphabet hits $4T market cap, Walmart to join Nasdaq-100