Spirit Airlines price target lowered to $3.85 from $4 at Citi

Citi lowered the firm’s price target on Spirit Airlines to $3.85 from $4 and keeps a Sell rating on the shares. The company’s recent actions, including aircraft deferrals, along with the carrier’s receipt of compensation for aircraft groundings, could help the carrier to avoid near-termworst-case financial scenarios, though the airline still runs the risk that any free cash flow generation could be minimal relative to its latest net debt count of $5.9B, the analyst tells investors in a research note.