Evercore ISI analyst Duane Pfennigwerth lowered the firm’s price target on Spirit Airlines (SAVE) to $20 from $25 and keeps an In Line rating on the shares. The firm, which is adjusting estimates for its airline coverage based on recent conference commentary and higher fuel costs beyond Q3, notes that revenue updates were “broadly in-line with our estimates,” with Frontier Group (ULCC) and Spirit the “outliers to the downside.”
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