Frontier Group downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded Frontier Group to Market Perform from Outperform with no price target. While the firm sees valuation support, it is increasingly concerned about potential near-term earnings downside risk and mixed results so far in the company’ss ability to improve operational performance. Despite the firm’s favorable view of Frontier’s product and network initiatives, it also voices long-term concerns around planned growth with 240-seat A321s.