Alaska Air (ALK) Gets a Buy Rating from J.P. Morgan

J.P. Morgan analyst Jamie Baker maintained a Buy rating on Alaska Air (ALKResearch Report) on July 22 and set a price target of $98.00. The company’s shares closed last Friday at $42.75.

According to, Baker is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -6.0% and a 42.6% success rate. Baker covers the Industrial Goods sector, focusing on stocks such as Southwest Airlines, JetBlue Airways, and Spirit Airlines.

Currently, the analyst consensus on Alaska Air is a Strong Buy with an average price target of $68.43, implying a 57.3% upside from current levels. In a report issued on July 8, Morgan Stanley also maintained a Buy rating on the stock with a $73.00 price target.

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Based on Alaska Air’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.68 billion and GAAP net loss of $143 million. In comparison, last year the company earned revenue of $797 million and had a GAAP net loss of $131 million.

Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is neutral on the stock.

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Alaska Air Group, Inc. is a holding company, which through its subsidiaries, Alaska Airlines, Inc. and Horizon Air Industries, Inc., engages in the provision of air transportation services. It operates through three segments: Alaska Mainline, Alaska Regional and Horizon. The Alaska Mainline segment includes flying Boeing 737 jets and all associated revenues and costs. The Alaska Regional segment records actual on-board passenger revenue, less costs such as fuel, distribution costs, and payments made to Horizon, SkyWest and PenAir under the respective Capacity Purchase Agreements. The Horizon segment operates turboprop Q400 aircraft. The company was founded in 1985 and is headquartered in Seattle, WA.

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