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Fly News Breaks for April 26, 2019
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Apr 26, 2019 | 07:30 EDT
Stephens analyst Jack Atkins believes Spirit Airlines' Q2 guidance "caught most investors off-guard," but he also thinks the core underlying fundamentals remain positive and the issues hurting the Q2 view are transitory. Atkins argues that the valuation following the post-earnings pullback undervalues the company's specific revenue initiatives and its structural cost advantage. He keeps an Overweight rating on Spirit Airlines shares, but lowered his price target on the stock to $64 from $72.
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