Imperial Capital analyst Michael Derchin raised his price target for Allegiant Travel Company to $180 from $162 following the company's Q1 results and keeps an Outperform rating on the name. The shares present an attractive opportunity, due to the Allegiant's "strong" fiscal 2019 core earnings outlook, "top-tier" margins, potential upside from revenue and cost initiatives, and its Sunseeker resort project, which is expected to open in 2020, 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."