Barclays analyst Brandon Oglenski reinstated coverage of Spirit Airlines with an Underweight rating and $4 price target. Spirit faces significant operating and financial headwinds in the coming year that are likely to limit share upside, the analyst tells investors in a research note. The firm says that with mounting financial leverage and ongoing operating losses compounded by GTF engine related groundings, it sees limited equity potential in Spirit’s shares.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SAVE:
- Largest borrow rate increases among liquid names
- Airline bosses seek meetings with Boeing to address quality problems, WSJ says
- JetBlue cuts routes in cost-saving effort, CNBC reports
- Speculating on Spirit Airlines (NYSE:SAVE) Stock at this Point is Fraught with Peril
- Spirit Airlines put volume heavy and directionally bearish
