Alaska Air price target raised to $56 from $50 at BofA

BofA analyst Andrew Didora raised the firm’s price target on Alaska Air to $56 from $50 and keeps a Buy rating on the shares. Alaska’s earnings recovery has trailed the broader industry post-pandemic ,but headwinds have now shifted to tailwinds as corporate travel returns to pre-pandemic levels, West coast competitive capacity pressures alleviate, and most labor deals are behind the airline, the analyst tells investors in a post-earnings note. Alaska’s “solid” Q2 outlook could prove conservative, the analyst added.