After Imperial Capital and Macquarie gave Alaska Air (NYSE: ALK) a Buy rating last month, the company received another Buy, this time from Credit Suisse. Analyst Jose Caiado maintained a Buy rating on Alaska Air yesterday and set a price target of $83. The company’s shares closed yesterday at $62.86.
According to TipRanks.com, Caiado is a 1-star analyst with an average return of -2.8% and a 11.1% success rate. Caiado covers the Services sector, focusing on stocks such as Southwest Airlines, American Airlines, and JetBlue Airways.
Alaska Air has an analyst consensus of Strong Buy, with a price target consensus of $80.60, a 28.2% upside from current levels. In a report issued on February 13, Morgan Stanley also maintained a Buy rating on the stock with a $80 price target.
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Based on Alaska Air’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.06 billion and net profit of $23 million. In comparison, last year the company earned revenue of $1.96 billion and had a net profit of $367 million.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock.
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Alaska Air Group, Inc. is a holding company, which through its subsidiaries, Alaska Airlines, Inc. and Horizon Air Industries, Inc., engages in the provision of air transportation services. It operates through three segments: Alaska Mainline, Alaska Regional and Horizon.
