Sun Country Airlines Shares Surge On Amazon Agreement Extension
Portfolio Pulse from Vaishali Prayag
Sun Country Airlines (NASDAQ:SNCY) shares surged after announcing an extended Air Transport Services Agreement with Amazon, potentially expanding its cargo fleet significantly by 2025. Morgan Stanley maintained an Overweight rating with a $21 price target.
June 20, 2024 | 7:53 pm
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Sun Country Airlines shares surged 12.3% following the extension of its Air Transport Services Agreement with Amazon, which could expand its cargo fleet by up to eight Boeing 737-800 aircraft by 2025. Morgan Stanley maintained an Overweight rating with a $21 price target.
The extension of the agreement with Amazon is a significant positive development for Sun Country Airlines, potentially increasing its cargo fleet and revenue. The market reacted positively with a 12.3% surge in share price. Morgan Stanley's maintained Overweight rating and $21 price target further support a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100