Raymond James Downgrades Alaska Air Group

Shares of Alaska Air Group ALK are trading down 1.1 percent Friday afternoon following a downgrade to market perform from outperform at Raymond James. Analysts also removed the $55 price target on the company shares.

Savanthi Syth downgraded shares of Alaska Air Group on risk of 2015 EPS from increasing competitive capacity pressure. Syth stated,”Competitive seat capacity growth set to accelerate to 12 percent from “already elevated” 6 percent over prior 6 quarters.”

Shares of Alaska Air Group are currently trading at $47.09 down 1.1 percent.