Barclays Maintains an 'Overweight' on Spirit Airlines (SAVE); Buying on Weakness
Tweet Send to a FriendGet Alerts SAVE Hot Sheet
Price: $29.61 --0%
Rating Summary:
10 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 14 | New: 21
Rating Summary:
10 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 14 | New: 21
Trade SAVE Now!
Barclays maintains an 'Overweight' on Spirit Airlines (NASDAQ: SAVE) price target of $32.00.
Analyst, David E. Fitzen, said, "Yesterday SAVE released its updated 2Q guidance. While the increase in ex-fuel CASM range was read as a disappointment, we'd be buyers of the stock following yesterday's weakness for three reasons: (1) The CASM increase was expected and appears to be one-time in nature; (2) our view that the company can generate industry leading margins while taking advantage of ample growth opportunities remains intact, and (3) SAVE could be a defensive name that can outperform on a relative basis if our near term caution about the fuel/revenue offset plays out."
FY12 EPS estimates from $2.05 to $2.00 and FY13 maintained at $2.60.
For an analyst ratings summary and ratings history on Spirit Airlines click here. For more ratings news on Spirit Airlines click here.
Shares of Spirit Airlines closed at $17.94 yesterday, with a 52 week range of $10.18-$24.75.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, David E. Fitzen, said, "Yesterday SAVE released its updated 2Q guidance. While the increase in ex-fuel CASM range was read as a disappointment, we'd be buyers of the stock following yesterday's weakness for three reasons: (1) The CASM increase was expected and appears to be one-time in nature; (2) our view that the company can generate industry leading margins while taking advantage of ample growth opportunities remains intact, and (3) SAVE could be a defensive name that can outperform on a relative basis if our near term caution about the fuel/revenue offset plays out."
FY12 EPS estimates from $2.05 to $2.00 and FY13 maintained at $2.60.
For an analyst ratings summary and ratings history on Spirit Airlines click here. For more ratings news on Spirit Airlines click here.
Shares of Spirit Airlines closed at $17.94 yesterday, with a 52 week range of $10.18-$24.75.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Jefferies Lifts Numbers on Diana Shipping (DSX) Post Q1
- Benchmark Boosts PT on R.R. Donnelley (RRD)
- Topeka Capital Starts Atmel (ATML) at Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Barclays
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
