Raymond James raised the firm’s price target on Allegiant Travel (ALGT) to $110 from $75 and keeps an Outperform rating on the shares as part of a Q4 earnings preview for the airlines. The target bump reflects a modest increase in applied multiples and the shift to a 2025 base period, the analyst tells investors in a research note. The firm e believes Alaska, Allegiant, JetBlue and American are best positioned into the Q4 reports, while on a medium to long-term basis Delta remains its top pick given an attractive risk/reward dynamic.
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Read More on ALGT:
- Allegiant Travel price target raised to $70 from $50 at TD Cowen
- Allegiant Travel reports November 2024 total system passengers down 6.5%
- Allegiant Travel raises Q4 adjusted EPS view to $1.75-$2.25 from 0c-$1.00
- Allegiant Travel price target raised to $85 from $53 at Deutsche Bank
- Allegiant Travel price target raised to $90 from $80 at Morgan Stanley