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.
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