In a report published Wednesday, Imperial Capital analyst Bob McAdoo upgraded the rating on Alaska Air Group ALK from In-Line to Outperform, and raised the price target from $63.00 to $70.00.
In the report, Imperial Capital noted, “We are upgrading our rating on ALK share to Outperform from In-Line and raising our one-year price target to $70 from $63 as recent stock underperformance seems unwarranted, in our view. Our price target is about 11% above the recent share price. We believe Delta's increasing presence in the Seattle market likely represents a net positive for Alaska Airlines.”
Alaska Air Group closed on Tuesday at $62.70.
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