Wolfe Research upgraded Alaska Air to Outperform from Peer Perform with a $55 price target. The firm cites a “favorable combination” of earnings upside and an attractive valuation for the upgrade. Alaska Air is facing several emerging tailwinds on the West Coast with an accelerating corporate recovery, improving competitive capacity and lower regional jet fuel prices, the analyst tells investors in a research note. As a result, Wolfe sees a favorable combination of earnings upside and an attractive valuation.
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