Morgan Stanley lowered the firm’s price target on Frontier Group to $10 from $18 and keeps an Overweight rating on the shares. The “Goldilocks” period of strong demand growth, rising prices and falling jet fuel “lasted only a few quarters” for the U.S. airlines, but choppy macro conditions, a bounce in jet fuel prices and domestic capacity growth plans “have once again driven angst amongst Airlines investors,” the analyst tells investors in a Q3 preview note for the group.
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