Deutsche Bank analyst Mike Linenberg downgraded Allegiant Travel to Hold from Buy with a price target of $75, down from $106. The company has a "very full plate" as it works toward a tentative pilot agreement and plans for the 737 MAX induction, Linenberg tells investors in a research note. In addition, Allegiant is dealing with the delayed opening of its Sunseeker resort, which should ultimately help with revenue diversification, says the analyst. For now, Linenberg expects the stock to be range bound until the company "demonstrates the earnings leadership which it is known for."
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