Frontier Group price target raised to $4.70 from $3.50 at Citi

Citi analyst Stephen Trent raised the firm’s price target on Frontier Group to $4.70 from $3.50 and keeps a Neutral rating on the shares. The firm says the company “appears to be making strides” in terms of improving its revenue mix and generating more stable earnings. Although it is conceivable that U.S. interest rate cuts could create short-term share price support, Frontier’s financial leverage remains very high, its earnings improvement “appears poorly matched” with its cash burn and even by U.S. airline standards, the shares are very volatile, the analyst tells investors in a research note.