Susquehanna lowered the firm’s price target on Frontier Group to $3 from $4.50. The firm said while they believe air travel demand into the early fall remains relatively healthy, they are closely watching the US consumer and with recent US West Coast tech layoffs, it is a directional negative for related corporate travel into 2H24. As a result, the firm continues to prefer network carriers given their depth of networks; revenue diversification and premium focus; and attractive valuations.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ULCC:
- Frontier Group price target lowered to $6 from $7 at Barclays
- Frontier Group price target lowered to $4 from $5 at Deutsche Bank
- Frontier Airlines Reports Second Quarter 2024 Financial Results
- Frontier Group sees 2024 capacity up 5%-7% year-over-year
- Frontier Group sees Q3 capacity up 4%-6% year-over-year
Questions or Comments about the article? Write to editor@tipranks.com