Cowen Securities Reiterates Buy on Alaska Air Group on Updated 1Q13 Investor Guidance

In a report published Wednesday, Cowen Securities analyst Helane Becker reiterated her Buy rating and $63.00 price target on Alaska Air Group ALK. In the report, Becker noted, “Alaska Air Group updated 1Q13 investor guidance this morning, and the key change is better than expected passenger unit revenues. Management expects 1Q13 capacity to be up 8.5%, in line with prior guidance but non-fuel unit costs are expected to be down by 1%, compared to prior guidance of down 0.5%. Jet fuel is expected to be $3.47/gallon, compared to prior guidance of $3.51/gallon. Consolidated passenger unit revenues for the month of January and February were up 2% and up 1.6%, respectively.” Alaska Air Group closed on Tuesday at $57.03.