Alaska Air price target lowered to $55 from $61 at Citi

Citi lowered the firm’s price target on Alaska Air to $55 from $61 and keeps a Buy rating on the shares. Even without international long-haul service, Alaska Air has managed to maintain “attractive profitability,” with the company’s Q3 results reflecting the second consecutive quarter with a double-digit adjusted pre-tax margin, the analyst tells investors in a research note. The firm says Alaska’s product suite, co-branded card remuneration and international feed from its partners appear to be some of the factors that set the carrier apart from its domestic peers.