Alaska Air price target raised to $85 from $58 at JPMorgan

JPMorgan analyst Jamie Baker raised the firm’s price target on Alaska Air (ALK) to $85 from $58 and keeps an Overweight rating on the shares following the investor day. The firm says Alaska’s first proforma guide “comfortably” supports its year-end 2025 price target of $85. The target does not yet take into account any potential re-rating that is “increasingly justified as profits continue to disproportionately accrue to just a handful of entities,” the analyst tells investors in a research note. The firm says Alaska’s underlying drivers strike it as “reasonably achievable.”