Frontier Group price target raised to $10 from $7 at Morgan Stanley

Morgan Stanley analyst Ravi Shanker raised the firm’s price target on Frontier Group (ULCC) to $10 from $7 and keeps an Equal Weight rating on the shares. Frontier remains on a path to double-digit margins by the summer and while consensus has come up some, there “clearly” is “a long way to go before implied normalized EPS of $2 is priced into the stock,” the analyst tells investors following Frontier’s “blowout” Q4 beat.