Seaport Research lowered the firm’s price target on Allegiant Travel to $89 from $96 and keeps a Buy rating on the shares. The company recently preannounced a revenue miss and higher fuel for Q1, the analyst tells investors. While the company cites normal seasonality, the size of the Q1 revenue miss will prompt investors to question the company’s revenue recovery, the firm adds. The price target now reflects a stock that will remain challenged near-term, Seaport says.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALGT:
- Allegiant Travel reports February total system passengers up 0.3% at 1.25M
- Allegiant Travel reaches tentative agreement with TWU for flight attendants
- Allegiant Travel and flight attendants union announce tentative deal
- Wells Fargo downgraded, Best Buy upgraded: Wall Street’s top analyst calls
- Allegiant Travel initiated with a Sell at UBS