Spirit Airlines Has 14.75% Upside Potential After Recent Decline, Crowd Says

Shares of Spirit Airlines Incorporated SAVE are up more than 16.1 percent since the beginning of the year. However, over the past week, the stock has lost almost 10 percent of its value, even though the company posted a top- and bottom-line beat on Tuesday morning.

Related Link: Here's How Crowdsourced Ratings Can Beat The Market

Following the most recent decline, top raters at the Vetr community decided to upgrade their rating on the stock from four stars to 4.5 stars – out of a possible five-star rating. The new rating better reflects the 14.75 percent upside potential implied in the crowd’s $52.98 average price target.

Finally, it should be noted that 83 percent of the crowd’s ratings are now bullish.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.