Loading...
Loading...
In a report published Monday, Bank of America analyst Glenn D. Engel reiterated a Buy rating on Alaska Air Group
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in