Barclays lowered the firm’s price target on Frontier Group to $13 from $16 and keeps an Overweight rating on the shares post the Q2 results. The company’s reduced back half of 2023 guidance should not come as a surprise following other airline reports this quarter but investors must wait for next year for management to prove the high-growth, low-cost model can deliver material profitability, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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>>
See today’s best-performing stocks on TipRanks >>
Read More on ULCC:
- Frontier Group reports Q2 adjusted EPS 31c, consensus 28c
- Frontier Airlines Reports Second Quarter 2023 Financial Results
- Frontier Group Holdings, Inc. (ULCC) Q2 Earnings Cheat Sheet
- Trouble in the Skies as Airline Stocks Sink
- Frontier Airlines Goes Big – Really Big – With 29th Anniversary Customer Appreciation Event