Barclays lowered the firm’s price target on Spirit Airlines (SAVE) to 50c from $3 and keeps an Underweight rating on the shares. The company earlier this week officially admitted bankruptcy is on the table to deal with tis significant debt maturities, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SAVE:
- BofA moves to No Rating on Spirit Airlines as creditor negotiations continue
- Charter to acquire Liberty Broadband, Spotify reports Q3 beat: Morning Buzz
- ‘Steep Slide Is Likely to Continue,’ Says Analyst About Spirit Airlines Stock
- Spirit Airlines says noteholder deal, if reached, would cancel equity
- Spirit Airlines sees Q3 revenue down $61M vs. last year on lower yields