Alaska Air price target raised to $81 from $72 at UBS

UBS analyst Thomas Wadewitz raised the firm’s price target on Alaska Air (ALK) to $81 from $72 and keeps a Buy rating on the shares. UBS remains bullish on Alaska Air shares following the Analyst Day, which highlighted multiple drivers of revenue growth and margin expansion which support their target of $1B incremental profits in 2027 off a 2024 base, the analyst tells investors in a research note. In addition to revenue growth and margin expansion, Alaska has added a capital return component resulting from stable capex, which allows share buyback of $250M per year, providing additional support to EPS and the stock, UBS says.