TD Cowen analyst Tom Fitzgerald raised the firm’s price target on Allegiant Travel (ALGT) to $70 from $50 and keeps a Hold rating on the shares. While Allegiant was significantly impacted by hurricanes at the start of Q4, the company is seeing a faster-than-expected recovery as well as close-in holiday demand that is exceeding management’s expectations, the analyst tells investors in a research note. TRASM is now expected to be down 1.5% year over year vs. prior expectations of down 4.5%, the firm says.
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Read More on ALGT:
- Allegiant Travel reports November 2024 total system passengers down 6.5%
- Allegiant Travel raises Q4 adjusted EPS view to $1.75-$2.25 from 0c-$1.00
- Allegiant Travel price target raised to $85 from $53 at Deutsche Bank
- Allegiant Travel price target raised to $90 from $80 at Morgan Stanley
- Allegiant Travel assumed with a Neutral at UBS