BofA raised the firm’s price target on Alaska Air (ALK) to $55 from $50 and keeps a Buy rating on the shares after the company raised its Q3 unit revenue guidance to up 2.0% from the prior flat-to-positive guidance, driven by a CrowdStrike (CRWD) benefit in July and stronger revenue performance in August and September. The firm raised its own Q3 EPS estimate to $2.24 from $1.98, which it notes is at the high end of the new EPS guidance of $2.15-2.25.
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:
- Moderna, Dow slide after offering sales outlooks: Morning Buzz
- Morning Movers: Signet Jewelers surges following second quarter results
- Alaska Air Raises Q3 EPS Forecast on Strong Demand
- Alaska Air raises Q3 EPS view to $2.15-$2.25 from $1.40-$1.60
- United expressed ‘concerns’ to DOT with Hawaiian, Alaska Air merger plan