Barclays analyst Brandon Oglenski raised the firm’s price target on Allegiant Travel (ALGT) to $75 from $50 and keeps an Equal Weight rating on the shares. The firm sees airline fundamentals “turning sharply positive” in 2025 and likely to drive a “much more favorable market perception for the group,” potentially affording meaningful share price appreciation for the industry leaders Delta, United and Alaska. The convergence of improving airline fundamentals and investor sentiment could combine to drive a “powerful rally in airline equities looking into next year,” the analyst tells investors in a research note. Barclays expects the “winners will keep winning.” Airlines offer significant upside potential as capacity growth moderates in 2025, low cost carrier competition is reshuffled and the “moats grow deeper for the winners in the industry,” contends the firm.
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Read More on ALGT:
- Allegiant Travel price target raised to $90 from $75 at Seaport Research
- Allegiant Travel price target raised to $50 from $45 at Barclays
- Allegiant Travel price target lowered to $185 from $192 at TD Cowen
- Allegiant Travel Faces Q3 Loss Amid Challenges
- Allegiant Travel Faces Increased Losses in Q3 2024
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