As previously reported, Raymond James upgraded Allegiant Travel (ALGT) to Strong Buy from Outperform with a price target of $90, down from $125, in conjunction with the firm’s U.S. airlines earnings preview. Among the group, target prices were lowered due to earnings cuts and application of lower multiples reflecting elevated macro uncertainty, notes the analyst, who favors stocks with idiosyncratic earnings drivers that should help offset any macro-driven headwinds. These include Allegiant along with Outperform-rated American Airlines (AAL) and Southwest (LUV), the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALGT:
- Allegiant Travel upgraded to Strong Buy from Outperform at Raymond James
- Allegiant Travel reports February 2025 total system passengers up 2.6% y-o-y
- Allegiant Travel now sees Q1 EPS $1.50, consensus $1.78
- Allegiant Travel COO Keny Wilper steps down, Tyler Hollingsworth now interim COO
- Allegiant Travel reports January total system passengers up 6.5%