Alaska Air price target raised to $42 from $40 at Susquehanna

Susquehanna raised the firm’s price target on Alaska Air to $42 from $40 and keeps a Neutral rating on the shares. The firm said its Q1 RASM excluding the MAX grounding was impressive but they continue to believe FY24 capacity is still not yet fully de-risked; hence, putting aside fuel, they struggle with where the company can look to meaningfully rein in costs.