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Fly News Breaks for September 23, 2019
SAVE
Sep 23, 2019 | 06:13 EDT
Stephens analyst Jack Atkins downgraded Spirit Airlines to Equal Weight from Overweight and lowered his price target for the shares to $45 from $55. With its heavy Southeast and Caribbean exposure, Spirit significantly lowered its Q3 guidance in early September due to Hurricane Dorian, Atkins tells investors in a research note. While the analyst continues to see long-term opportunities for the airline to drive higher non-ticket and ancillary revenues, he sees limited near-term catalysts, "particularly in the face of growing competition," noting that other airlines are successfully growing their discounted fare options. As a result, Atkins sees a more challenging backdrop for Spirit Airlines in 2020.
News For SAVE From the Last 2 Days
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Mar 28, 2024 | 15:22 EDT
What has Wall Street been buzzing about this week? Here are the top 5 Bu-y calls and the top 5 Sell calls made by Wall Street’s best analysts during the week of March 25-28. Find all top-rated... To see the rest of the story go to thefly.com. See Story Here
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Mar 27, 2024 | 05:33 EDT
Barclays analyst Brandon Oglenski reinstated coverage of Spirit Airlines with an Underweight rating and $4 price target. Spirit faces significant operating and financial headwinds in the coming year that are likely to limit share upside, the analyst tells investors in a research note. The firm says that with mounting financial leverage and ongoing operating losses compounded by GTF engine related groundings, it sees limited equity potential in Spirit's shares.