BofA lowered the firm’s price target on Frontier Group (ULCC) to $6.50 from $8 and keeps a Neutral rating on the shares. Ahead of Frontier’s Q2 report due on Thursday, August 8, the firm lowered estimates given weak domestic revenue commentary and softer outlooks from both Spirit Airlines (SAVE) and Allegiant (ALGT), the analyst tells investors. Based on Spirit’s commentary about new bundled offerings, the firm expects pricing pressures beyond those associated with the industry supply-demand backdrop, the analyst added in the preview.
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Read More on ULCC:
- Affirm, Sprouts Farmers upgraded: Wall Street’s top analyst calls
- Frontier Group downgraded to Underweight from Neutral at JPMorgan
- Frontier Group price target lowered to $4 from $6.50 at TD Cowen
- Frontier Group price target lowered to $5.35 from $7 at Citi
- Frontier Group price target lowered to $4.50 from $6 at Susquehanna
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