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Fly News Breaks for April 23, 2018
VLRS
Apr 23, 2018 | 07:19 EDT
Barclays analyst Gilberto Garcia downgraded Volaris to Equal Weight and lowered his price target for the shares to $8 from $11. Imperial Capital this morning also downgraded the shares. The competitive environment took a turn for the worse in Q1, pushing Volaris' yields to record lows, Garcia tells investors in a post-earnings research note. The analyst sees no fare recovery in sight and believes the short-term setup is too challenging to make up for the long-term potential amid rising fuel costs.
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