Sun Country Airlines upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Ravi Shanker upgraded Sun Country Airlines to Overweight from Equal Weight with an unchanged price target of $21. The analyst likes Sun Country’s “unique business model” and believes its three segments make it the most defensive ultra low cost carrier. While there have been no signs of a slow down in leisure travel, the company’s diversified business model can respond to fluctuations in leisure with its charter and cargo businesses, the analyst tells investors in a research note. The firm sees an attractive risk/reward at current share levels.