Rodman & Renshaw is out with its report today on Allegiant Travel ALGT, maintaining Market Outperform.
In its report, Rodman & Renshaw writes, "With respect to the balance sheet, heavy cap-ex spending this year
normalizes in 2012, which should give way to more share repurchases. Mgmt remains committed to executing on a 15% operating margin which if correct, suggests ALGT could earn roughly $5/share (and shares likely fetch $60). For now, our $58 PT is based on shares trading at 13x our
2012 EPS of $4.50 (vs consensus of $3.80). Maintaining our Market Outperform rating."
Shares of ALGT closed Wednesday at $52.62.
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