Allegiant Travel price target raised to $120 from $115 at Morgan Stanley

Morgan Stanley analyst Ravi Shanker raised the firm’s price target on Allegiant Travel to $120 from $115 and keeps an Equal Weight rating on the shares. Airlines go into Q2 “with somewhat high expectations for the first time in 3+ years” and the market has been giving the group credit with about a 37% year-to-date run, but risk-reward is “still very attractive,” says Morgan Stanley, which is expecting a “good” Q2 for the U.S. Airlines group.