Alaska Air Analysts Cut Their Forecasts After Q2 Results

Alaska Air Group, Inc ALK reported better-than-expected earnings and sales results for its second quarter.

Alaska Air reported second-quarter FY23 operating revenue growth of 7% year-over-year to $2.84 billion, beating the consensus of $2.77 billion. Adjusted EPS was $3.00 compared to $2.19 in 2Q22, beating the consensus of $2.70.

The company said it sees 0%-3% topline growth in the third quarter.

Alaska Air shares fell 9.7% to close at $48.18 on Tuesday.

These analysts made changes to their price targets on Alaska Air following earnings announcement.

• Goldman Sachs cut the price target on Alaska Air from $63 to $61. Goldman Sachs analyst Catherine O'Brien maintained a Buy rating.
• Barclays slashed the price target on Alaska Air from $66 to $62. Barclays analyst Brandon Oglenski maintained an Overweight rating.

Check This Out: Coca-Cola, Microsoft And 3 Stocks To Watch Heading Into Wednesday