Susquehanna lowered the firm’s price target on Spirit Airlines (SAVE) to $4 from $5 and keeps a Negative rating on the shares as part of a Q1 earnings preview for the airlines and aircraft leasing companies. The firm keeps Positive ratings on network carriers Delta Air Lines (DAL) and United Airlines (UAL), with the latter its top pick within the group. It continue to see United executing on its “United Next initiative.” While channel checks point to solid demand into the spring and summer travel periods, Susquehanna remains cautious, as it continues to see downside to fiscal 2024 capacity outlooks driven aircraft delivery delays, concerns around quality control for certain aircraft equipment, and uncertain performance within completion factors, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SAVE:
- Spirit Airlines (NYSE:SAVE) Delays Airbus Orders and Furloughs Pilots
- Spirit Airlines Reschedules Airbus Deliveries, Preps Investor Update
- Spirit Airlines to furlough approximately 260 pilots effective September 1
- Spirit Airlines announces deferral of Airbus aircraft deliveries
- JetBlue pilots open negotiations for new contract