UPDATE: Imperial Capital Raises PT to $98 on Allegiant Travel Company on Lower Fuel Prices

Imperial Capital reiterates its Outperform rating on Allegiant Travel Company ALGT and raises its price target from $80 to $98 a share. Imperial Capital says, "Increasing estimates to reflect lower fuel prices. We are raising our CY12 estimate to $4.48 from $3.73 and our CY13 estimate to $5.52 from $4.60. Fuel prices have decreased 12% in the last 30 days, which has a direct and immediate positive impact on airline earnings." ALGT closed at $63.90 on Wednesday.