BofA lowered the firm’s price target on Alaska Air (ALK) to $62 from $72 and keeps a Buy rating on the shares. The firm lowered its Q4 and 2025 EPS estimates to account for the recent El Segundo refinery fire that has driven West coast jet fuel prices up 18% since October 1 along with a higher Q4 tax rate, the analyst tells investors. The firm also phased in a higher tax rate in 2026, driving its 2026 EPS forecast lower as well.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALK:
- Alaska Air: Strong Market Position and Growth Potential Amid Challenges – Buy Rating Affirmed
- FAA continues to delay flights for third day due to gov shutdown, Reuters says
- Alaska Air put volume heavy and directionally bearish
- Delta Air Lines Stock (DAL) Takes Flight after Leading Analyst Says It is Soaring Past Peers
- Alaska Air price target lowered to $58 from $60 at Susquehanna