Citigroup Downgrades Spirit Airlines to Sell, Lowers Price Target to $4
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Stephen Trent has downgraded Spirit Airlines (NYSE:SAVE) from Neutral to Sell and reduced the price target from $13 to $4, indicating a bearish outlook on the company's stock.
January 18, 2024 | 10:56 am
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Spirit Airlines has been downgraded by Citigroup from Neutral to Sell with a significant reduction in price target from $13 to $4, suggesting a negative sentiment towards SAVE's stock value.
The downgrade by a major financial institution like Citigroup typically reflects a negative analysis of the company's future performance and is likely to influence investors' perception negatively. The substantial decrease in the price target further emphasizes the expectation of a decline in the stock's value, which could lead to a short-term drop in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100