In a report published Wednesday, Morgan Stanley analyst Eduardo S. Couto reiterated an Overweight rating on Volaris VLRS, but removed the $15.20 price target.
In the report, Morgan Stanley noted, “VLRS reported weak 4Q13 with EBIT Mg. at -6.2%, down 12p.p. Y/Y and 11p.p. below MSe. Despite low yield (down 15% Y/Y vs. MSe of -8%), 4Q surprise came from non-ticket revenue per ASM, down 17% Y/Y and 10% Q/Q. Non ticket/ASM dropped a lot in 2013 raising concerns to VLRS unbundled pricing strategy.”
Volaris closed on Tuesday at $11.39.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in