Dahlman Rose Downgrades Allegiant Travel Company (ALGT) to Sell; No Jet Fuel Hedge Head Fake

August 1, 2012 8:18 AM EDT
Get Alerts ALGT Hot Sheet
Price: $177.50 +0.54%

Rating Summary:
    10 Buy, 9 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Dahlman Rose downgraded Allegiant Travel Company (NASDAQ: ALGT) from Hold to Sell with a price target of $60.00.

Analyst, Helane Becker, said, "Year-to-date Allegiant has outperformed the airlines, as the company does not hedge jet fuel and are adding accretive ancillary products. We believe the stock's multiple, which is more than 15x forward earnings, is aggressive in the current economic environment. We believe there are other companies with more attractive valuations."

For an analyst ratings summary and ratings history on Allegiant Travel Company click here. For more ratings news on Allegiant Travel Company click here.

Shares of Allegiant Travel Company closed at $71.06 yesterday.

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