In a report released today, Savanthi Syth from Raymond James maintained a Buy rating on Alaska Air (ALK), with a price target of $40.00. The company’s shares closed last Monday at $23.93, close to its 52-week low of $20.02.
According to TipRanks.com, Syth is a 4-star analyst with an average return of 2.8% and a 50.2% success rate. Syth covers the Services sector, focusing on stocks such as Southwest Airlines, American Airlines, and Ryanair Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alaska Air with a $52.17 average price target, an 117.4% upside from current levels. In a report issued on March 16, Goldman Sachs also downgraded the stock to Buy with a $65.00 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 $2.23 billion and net profit of $181 million. In comparison, last year the company earned revenue of $2.06 billion and had a net profit of $23 million.
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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.
