UPDATE: Bank of America Raises PT on Alaska Air Group on Raised Estimate
In a report published Monday, Bank of America analyst Glenn D. Engel reiterated a Buy rating on Alaska Air Group (NYSE: ALK), and raised the price target from $60.00 to $70.00.
In the report, Engel noted, “We are raising our 1Q estimate to $0.63 ($0.39 a year ago) from $0.53 and our full year 2013E to $6.25 from $6.15. 1Q yield gains are running a point better than 4Q gains and above our estimates. ALK now expects 1Q13 mainline CASM to decline 2% yoy, a point better than its initial forecast. ALK projects a slight decline in its full year non-fuel CASM as compared to the 2% cost inflation expected for the sector. Over the past decade, ALK has nearly closed its cost gap relative to the low fare average.”
Alaska Air Group closed on Friday at $62.85.
Latest Ratings for ALK
|Mar 2017||Stifel Nicolaus||Upgrades||Hold||Buy|
|Jan 2017||Bank of America||Upgrades||Neutral||Buy|
|Jan 2017||Cowen & Co.||Downgrades||Outperform||Market Perform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.