Credit Suisse Believes Spirit Airlines (SAVE) Still Has Room to Grow


In a report issued on February 6, Jose Caiado from Credit Suisse maintained a Buy rating on Spirit Airlines (SAVE), with a price target of $83. The company’s shares closed yesterday at $62.71, close to its 52-week high of $65.35.

According to TipRanks.com, Caiado is a 1-star analyst with an average return of -1.5% and a 37.5% success rate. Caiado covers the Services sector, focusing on stocks such as Southwest Airlines, American Airlines, and JetBlue Airways.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Spirit Airlines with a $76.17 average price target, which is a 21.5% upside from current levels. In a report issued on January 29, Macquarie also maintained a Buy rating on the stock with a $81 price target.

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The company has a one-year high of $65.35 and a one-year low of $34.36. Currently, Spirit Airlines has an average volume of 1.24M.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Spirit Airlines, Inc. is an airline that offers affordable travel to price-conscious customers. The company’s customers start with an unbundled, stripped-down Bare Fare and get Frill Control which allows them to pay only for the options they choose like bags, seat assignments and refreshments the things other airlines bake right into their ticket prices.

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