UPDATE: Credit Suisse Initiates Coverage on Spirit Airlines with Outperform Rating, $100 PT on Compelling Growth Story

In a report published Friday, Credit Suisse analyst Julie Yates initiated coverage on Spirit Airlines SAVE with an Outperform rating and $100.00 price target. In the report, Credit Suisse noted, "We initiate at Outperform based on our views that SAVE (1) is still early in the growth phase and there is plenty of runway for profitable growth, (2) has a durable cost advantage that is widening, and (3) has sustainable industry-leading margins despite aggressive growth." Spirit Airlines closed on Thursday at $80.12.