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SAVE

Spirit Airlines

$50.98

-0.64 (-1.24%)

08:19
11/27/18
11/27
08:19
11/27/18
08:19

Spirit Airlines sees Q4 capacity up 15%

In a regulatory filing last night, Spirit provided an update to its fourth quarter 2018 guidance, stating that capacity as measured by Available Seat Miles, or ASMs, is expected to be up 15.0% year-over-year.

  • 27

    Nov

SAVE Spirit Airlines
$50.98

-0.64 (-1.24%)

11/19/18
FBCO
11/19/18
INITIATION
Target $59
FBCO
Neutral
Spirit Airlines initiated with a Neutral at Credit Suisse
Credit Suisse analyst Jose Caiado started Spirit Airlines with a Neutral rating and $59 price target. The analyst believes the company's "sustainable" cost advantage relative to peers, which is driving "solid" margin and earnings growth, is partially reflected in the current valuation.
11/12/18
GSCO
11/12/18
INITIATION
Target $61
GSCO
Neutral
Spirit Airlines initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Catherine O'Brien started Spirit Airlines with a Neutral rating and $61 price target. The analyst expects the company's 2019 margin will be essentially flat year-over-year. She also launched coverage on the U.S. Airlines sector with an Attractive coverage view. Stronger revenue trends in 2019 coupled with a focus on cost control should drive higher industry operating margins for the first time since 2015 despite fuel headwinds, O'Brien tells investors in a research note.
10/30/18
10/30/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. LabCorp (LH) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg saying the company is faced with pressure from "lower lab testing payment rates mandated by the Protecting Access to Medicaid Act of 2014" along with business disruptions and the impact of acquisitions which resulted in lowers margins for the quarter. 2. E-Trade (ETFC) downgraded to Outperform from Strong Buy at Raymond James with analyst Patrick O'Shaughnessy saying the recent board decision not to sell the business and remain a standalone company takes a sales scenario off the table. The analyst remains positive on shares ans believes there is plenty of upside as management executes on its operating plan. 3. Southwest (LUV) downgraded to Underweight from Neutral at JPMorgan while United Continental (UAL) and Spirit Airlines (SAVE) downgraded to Neutral from Overweight. 4. Flex (FLEX) downgraded to Hold from Buy at Argus with analyst Jim Kelleher citing the expected impact from the "shutdown of Mexican operations with key customer Nike (NKE), which he expects to be fully unwound," as well as the retirement of the company CEO Mike McNamara who had presided over the company's business expansion. 5. Elevate Credit (ELVT) downgraded to Market Perform from Outperform at JMP Securities and William Blair. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/30/18
JPMS
10/30/18
NO CHANGE
JPMS
JPMorgan downgrades three airlines, upgrades JetBlue to Overweight
JPMorgan analyst Jamie Baker continues to believe that a "trading trifecta" has formed for U.S. Airlines in investors' favor. The case for industry margin expansion remains the best we've seen in four years, and most stocks are within 10% of their autumnal lows, "suggesting seasonal trade-winds may lift equities as they often do," Baker tells investors in a research note. He thinks the industry remains on a path towards margin expansion for the first time since 2014 amid lower year-over-year capacity, "robust" demand, "disciplinary" fuel, and no immediate risk to labor cost assumptions. After making changes to his estimates and price targets, Baker downgraded United Continental (UAL) and Spirit Airlines (SAVE) to Neutral from Overweight, downgraded Southwest Airlines (SAVE) to Underweight from Neutral, and upgraded JetBlue Airways (JBLU) to Overweight from Neutral. Southwest and United entered the year as underperformers, but appear poised to potentially exit as winners, says Baker. From here, he'd rather focus on the "names that haven't worked than pound the table on the two that have." For Southwest, the analyst does not envision significant downside potential, but rather views the stock as "stalled at current valuation levels until such time a trajectory towards higher margins can better be established." Meanwhile, JetBlue is the "cheapest" of the domestic airlines and its target multiple is the lowest, Baker says. He sees over 20% upside potential in the shares.

TODAY'S FREE FLY STORIES

ARES

Ares Management

$30.82

0.15 (0.49%)

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X

U.S. Steel

$12.45

-0.51 (-3.94%)

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  • 23

    Sep

APTS

Preferred Apartment

$14.28

-0.24 (-1.65%)

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SVRA

Savara

$2.49

-0.14 (-5.32%)

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
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Options
Closing CBOE SPX and VIX Index summary for September 18th »

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16:20
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General news
More division on the FOMC amid myriad uncertainties »

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BA

Boeing

$386.31

1.7 (0.44%)

16:17
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Periodicals
FAA head says won't unground 737 MAX until he flies it himself, CNBC says »

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  • 02

    Oct

TNDM

TNDM

16:17
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Tandem Diabetes says published results of t:slim X2 pump show reduced events »

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  • 19

    Sep

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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Technical Analysis
NASDAQ market internals summary »

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HCP

HCP

$34.94

-0.18 (-0.51%)

16:16
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HCP announces $1B commercial paper note program »

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KEY

KeyCorp

$18.22

0.09 (0.50%)

16:16
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Hot Stocks
KeyCorp lowers prime lending rate to 5.00% »

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  • 17

    Oct

FBM

Foundation Building Materials

$18.92

0.03 (0.16%)

16:16
09/18/19
09/18
16:16
09/18/19
16:16
Syndicate
Foundation Building Materials files to sell 4.75M shares of common stock »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
09/18/19
09/18
16:16
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Technical Analysis
NYSE market internals summary »

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PLAY

Dave & Buster's

$40.75

0.23 (0.57%)

16:15
09/18/19
09/18
16:15
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Initiation
Dave & Buster's initiated  »

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PRVB

Provention Bio

$9.67

0.3 (3.20%)

16:14
09/18/19
09/18
16:14
09/18/19
16:14
Syndicate
Provention Bio files to sell common stock, no amount given »

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  • 02

    Oct

COST

Costco

$292.37

0.86 (0.30%)

16:13
09/18/19
09/18
16:13
09/18/19
16:13
Downgrade
Costco rating change  »

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  • 03

    Oct

SPFI

South Plains Financial

$16.53

(0.00%)

16:12
09/18/19
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16:12
Hot Stocks
South Plains Financial Chief Credit Officer Kevin Bass resigns »

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  • 13

    Nov

MLHR

Herman Miller

$44.54

0.04 (0.09%)

16:12
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Herman Miller up 5% to $46.80 after Q1 results beat estimates »

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  • 19

    Sep

  • 21

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  • 22

    Oct

MLHR

Herman Miller

$44.50

(0.00%)

16:11
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Herman Miller CFO: We continue to navigate the global tariff picture effectively »

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  • 19

    Sep

  • 21

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  • 22

    Oct

ETSY

Etsy

$59.47

-0.45 (-0.75%)

16:10
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Syndicate
Breaking Syndicate news story on Etsy »

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  • 23

    Sep

  • 24

    Sep

MLHR

Herman Miller

$44.50

(0.00%)

16:09
09/18/19
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16:09
Hot Stocks
Herman Miller CEO says 'executing at a very high level' »

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  • 19

    Sep

  • 21

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  • 22

    Oct

MSFT

Microsoft

$138.48

1.08 (0.79%)

16:08
09/18/19
09/18
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16:08
Hot Stocks
Microsoft announces new $40B share repurchase program, 11% dividend hike »

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  • 27

    Oct

AVNW

Aviat Networks

$14.20

0.1 (0.71%)

16:08
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16:08
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Hot Stocks
Aviat Networks CEO Michael Pangia resigns, interim CEO Stan Gallagher appointed »

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MLHR

Herman Miller

$44.47

-0.03 (-0.07%)

16:07
09/18/19
09/18
16:07
09/18/19
16:07
Earnings
Herman Miller sees Q2 diluted EPS 85c-89c, consensus 85c »

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  • 19

    Sep

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  • 22

    Oct

RH

RH

$171.11

-1.61 (-0.93%)

16:07
09/18/19
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Earnings
RH raises FY19 guidance by 25c to $10.75-$11.01 after convertible debt offering »

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