Spirit Airlines price target lowered to $2.25 from $2.50 at Susquehanna

Susquehanna lowered the firm’s price target on Spirit Airlines to $2.25 from $2.50 and keeps a Negative rating on the shares. 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.