What To Know About Morgan Stanley's Downgrade of Allegiant Travel

Morgan Stanley downgraded its rating of Allegiant Travel ALGT to Equal-Weight with a price target of $115.00, changing its price target from $175.00 to $115.00.

Shares of Allegiant Travel are trading down 2.24% over the last 24 hours, at $80.07 per share.

A move to $115.00 would account for a 43.63% increase from the current share price.

About Allegiant Travel

Allegiant Travel Co provides travel services in the United States. It sells air transportation on a stand-alone basis or bundled with air-related and third-party services and products. Customers may also purchase fixed-fee flying arrangements to receive charter service on a year-round and ad hoc basis. Additionally, customers may purchase hotel rooms, ground transportation, and other attractions (for example, entertainment show tickets) to accommodate a trip. The company's operating segment includes Airline, Sunseeker Resort, and other non-airline. Customers purchase travel tickets at airport ticket counters, online, or through its telephone reservation center.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.