Spirit Airlines (SAVE) PT Raised to $50 at Cowen; Named Best Idea for 2020

Cowen analyst Helane Becker raised the price target on Spirit Airlines (NYSE: SAVE) to $50.00 (from $48.00) while maintaining an Outperform rating. The firm also named the stock a Best Idea for 2020.

The analyst commented, "Spirit Airlines is our best idea for 2020 as we believe its strategy of stimulating demand through low fares is profitable and repeatable, due to growing unit cost advantage vs peers. Improving operations should benefit consumer sentiment and unit costs. Forthcoming results will be dependent on management execution, timing around rollout of the new loyalty program, and route maturity."

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