UPDATE: Imperial Capital Raises PT to $41 on Spirit Airlines on Positive Impact From Fuel Prices

Imperial Capital reiterates its Outperform rating on Spirit Airlines

and raises its price target from $37 to $41. Imperial Capital notes, "Lower oil prices drop straight to the bottom line; demand still strong. Oil and jet fuel prices have come down approximately 12% in the past 30 days, which we believe is positive for the airlines. Within the past two weeks, multiple airline officials have indicated that demand, bookings, and the revenue outlook remain strong. In spite of this, many analysts have yet to move estimates up to reflect these evidently improving airline economics." SAVE closed at $20.63 on Wednesday.