Alaska Air resumed with a Buy at Goldman Sachs

Goldman Sachs analyst Catherine O’Brien resumed coverage of Alaska Air with a Buy rating and $60 price target. While positive on the backdrop for airlines, the analyst says the economic outlook is uncertain. In this environment, she favors stocks with "idiosyncratic earnings drivers, relatively more recovery tailwinds remaining, or characteristics that reduce downside risk." O’Brien is positive on Alaska Air as she sees revenue upside tied to increasing its corporate share and cost tailwinds from its move to a single fleet and return of leased aircraft.