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Morgan Stanley Names Spirit Airlines 'Top Airline Growth Pick'

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In a note released Wednesday morning, Morgan Stanley analyst John Godyn maintained an Overweight rating on Spirit Airlines Incorporated (NASDAQ: SAVE) and raised the price target from $90 to $100.

Godyn began his note by pointing out the Spirit beat both his and consensus estimates for third quarter EPS despite a recent downward revision to its third quarter margin guidance. However, he says the "most" important item was management's guide to 20 percent operating margins in the first quarter of 2015. Godyn said this implies "considerable upside" to his already above consensus estimates.

Looking forward, Godyn has revised his 2015 and 2016 EPS estimates "significantly higher" to $4.75 and $5.70, respectively.

Shares were up 1.7 percent at $72.16 shortly after the opening bell.

Latest Ratings for SAVE

DateFirmActionFromTo
Oct 2020JP MorganUpgradesNeutralOverweight
Oct 2020JP MorganUpgradesUnderweightNeutral
Jul 2020BarclaysMaintainsOverweight

View More Analyst Ratings for SAVE
View the Latest Analyst Ratings

 

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Posted-In: John Godyn Morgan StanleyAnalyst Color Price Target Reiteration Analyst Ratings

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