- Goldman Sachs analyst Catherine O'Brien upgraded Allegiant Travel Company ALGT to Buy from Neutral and raised the price target to $250, from $245, representing 32.8% upside.
- The analyst expects the company to see one of the fastest profitability recoveries in airlines and ultimately produce "top-of-industry" margins.
- O'Brien says she now has more clarity on the timeline and budget associated with Allegiant's entrance into the hotel business. While here is still elevated execution risk with the hotel, a "down cycle" sum-of-the-parts illustrative hotel scenario analysis could already be priced into Allegiant shares.
- Also read, Allegiant Clocks 29.2% Y/Y Growth In October Capacity.
- Price Action: ALGT shares traded higher by 5.19% at $198 in premarket on the last check Tuesday.
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