Raymond James analyst Savanthi Syth upgraded Frontier Group to Outperform from Market Perform with a $15 price target. The analyst sees an attractive risk/reward and has increased conviction in the shares following a are analysis and industry commentary. Seasonality explains the Q1 revenue shortfall and reflects improving momentum throughout 2023 for Frontier, the analyst tells investors in a research note. The firm sees "considerable upside" to 2025 earnings if the JetBlue-Spirit merger gets regulatory approval, leaving Frontier "as the sole" U.S. high utilization ultra low cost carrier.
Published first on TheFly
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