Alaska, JetBlue, And Southwest Airlines Stocks Upgraded, Analyst Sees Positive Shift In Airline Dynamics
Portfolio Pulse from Lekha Gupta
Deutsche Bank analyst Michael Linenberg upgraded Alaska Air Group Inc (ALK), JetBlue Airways Corp (JBLU), and Southwest Airlines Co (LUV) to Buy, citing a more balanced domestic supply backdrop and various company-specific factors. Linenberg increased price targets for ALK to $51, JBLU to $9, and LUV to $42. The upgrades were based on expectations of benefits from seasonal shaping initiatives for ALK, management changes and activist involvement for JBLU, and network restructuring for LUV. The overall domestic airline industry is expected to see moderate growth in 2024.
February 20, 2024 | 7:06 pm
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Alaska Air Group Inc upgraded to Buy with a new price target of $51. The upgrade is based on the benefits of seasonal shaping initiatives and an expected upside to 2024 EPS estimates.
The upgrade and increased price target for ALK are based on the analyst's positive view on the company's strategic initiatives and their expected impact on earnings, which is likely to be viewed positively by the market.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
JetBlue Airways Corp upgraded to Buy with a new price target of $9. The upgrade is influenced by management changes and the involvement of an activist investor.
The upgrade and increased price target for JBLU reflect the analyst's optimism about the company's future direction following management changes and activist involvement, which could lead to positive market reactions.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Southwest Airlines Co upgraded to Buy with a new price target of $42. The upgrade is based on expected benefits from network restructuring and lack of issues that have affected competitors.
The upgrade and increased price target for LUV are due to the analyst's positive outlook on the company's network restructuring and its avoidance of issues plaguing competitors, suggesting a bullish view for short-term performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90