Seaport Research lowered the firm’s price target on Alaska Air to $47 from $50 and keeps a Buy rating on the shares. The company reported Q2 results that exceeded the Street-high EPS, but shares fell due to a disappointing outlook for Q3 and 2024, the analyst tells investors. The firm acknowledges it should have “anticipated the disappointment,” but instead thought the company benefited from one of the “best competitive dynamics” in the industry.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALK:
- Stock Market News Today, 7/18/24 – Indices Continue Decline; Jobless Claims Miss Estimates
- ALK Earnings: Alaska Air Drops As Q3 Outlook Disappoints
- Morgan Stanley buyers of any weakness in airline stocks after United report
- Notable companies reporting before tomorrow’s open
- Alaska Air Group reports second quarter 2024 results