Barclays analyst Brandon Oglenski lowered the firm’s price target on Allegiant Travel to $96 from $100 and keeps an Overweight rating on the shares. Airline stocks are discounting an eventual slowdown in demand, but better leveraging of cost structures through capacity growth and lower than feared jet fuel prices "could be powerful favorable offsets in 2023," Oglenski tells investors in a research note. The analyst says airline equities "could get some relief" in 2023 from better leveraging of cost structures, lower than feared energy prices and a still recovering travel economy, despite the market’s broader macro concerns.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on ALGT:
- Allegiant Travel price target lowered to $120 from $130 at Raymond James
- Allegiant Travel releases 2021 ESG report
- Street Wrap: Today’s Top 15 Upgrades, Downgrades, Initiations
- Allegiant Travel reports November total system passengers up 0.9% y-o-y
- Deutsche Bank downgrades Allegiant on its ‘very full plate’