TD Cowen lowered the firm’s price target on Spirit Airlines (SAVE) to $1 from $2 and keeps a Sell rating on the shares. The firm said in a regulatory filing they disclosed they are unable to file 10-Q by required date due to creditor negotiations diverting significant mgmt time. Management states if definitive agreement with creditors is reached it is expected to lead to cancellation of equity. If no deal, they will consider all alternatives.
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