Imperial Capital analyst Michael Derchin lowered his price target for Allegiant Travel Company to $125 and keeps an In-Line rating on the shares. Following Delta's (DAL) Q4 update, further declines in fuel prices and recent market volatility, the analyst reduced his valuations and unit revenue expectations "across the board to reflect conservatism." Although Allegiant laid out a compelling business case for its Sunseeker Resort project in Florida, investors are likely to continue being skeptical while the resort is in development, Derchin tells investors in a research note.

Travel + Leisure Co. (TNL) and Allegiant (ALGT) "announced a multi-year marketing agreement, allowing both companies to grow their customer engagement through cross-company promotion. The two travel companies will share promotional offerings to each other's customers, providing offers to a broad spectrum of travelers. Allegiant, with more than 15 million Allways Rewards members, and Travel + Leisure Co., with more than 800,000 vacation ownership members and 3.5 million vacation exchange members, will each benefit from a highly engaged base of travelers."