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- BofA analyst Andrew Didora upgraded Frontier Group Holdings Inc ULCC to Buy from Neutral and lowered the price target to $18 (an upside of 28%), from $19, as he contends that poor investor sentiment in the airlines could set the stage for a trade higher in the first half of this year.
- "Times of poor sentiment are usually good times to buy airline stocks," the analyst argues.
- Didora upgrade of Frontier is paired with a downgrade of Allegiant Travel Co ALGT to Neutral from Buy with a price target of $200 (an upside of 13%), down from $225.
- The analyst sees heightened cost risk given Allegiant's recent Boeing Co BA 737 MAX order and prefers exposure to mainline carriers.
- Price Action: ULCC shares are trading higher by 2.71% at $14.00, and ALGT is down by 0.53% at $176.66 on the last check Friday.
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