UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Spirit Airlines on Expected Continued Earnings Growth

In a report published Wednesday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on

, and raised the price target from $56.00 to $68.00. In the report, Deutsche Bank noted, “Expect a continuation of solid earnings growth. Spirit produced a strong set of financial results for March quarter 2014, with EPS growth of 16% year-over-year to $0.52 and a 13.7% pretax margin. We expect profitable earnings growth to continue throughout the year and in 2015 as the company continues to benefit from its ultra-low cost structure, its unique business model focused on relatively low, unbundled fares and demand stimulation as well as solid revenue trends. We maintain our Buy rating.” Spirit Airlines closed on Tuesday at $56.69.