Jun. 26 at 7:18 PM
Citigroup upgrades Allegiant to buy from hold
Citigroup upgraded Allegiant Airlines
to buy from hold, raising the price target to
$156 —implying a 42% upside from Thursday’s close.
Analyst John Godyn noted several growth opportunities following Allegiant’s merger with Sun Country Airlines. The analyst suggests that the merger, Allegiant’s revenue model, and an incoming fleet of new planes will drive earnings in the long term.
“Our updated merger models suggest that ALGT’s earnings power in the years to
come could very well exceed the current highest estimates within consensus.” The analyst said in the note to clients on Friday.
$ALGT