Allegiant Travel price target lowered to $85 from $90 at BofA

BofA analyst Andrew Didora lowered the firm’s price target on Allegiant Travel to $85 from $90 and keeps a Neutral rating on the shares, telling investors that labor headwinds are more pronounced than the firm had thought. 2023 labor contracts are a headwind to unit costs, said BofA, which lowered its 2023 EPS estimate to $6.59 from $8.30.