Citi Reiterates Sell Rating on Spirit Airlines (SAVE) as Pratt & Whitney Compensate for Aircraft Groundings

Citi analyst Stephen Trent reiterated a Sell rating and $4.00 price target on Spirit Airlines (NYSE: SAVE).

The analyst comments "Citi views Spirit Airlines’ announcement, regarding Pratt & Whitney compensation for its aircraft groundings as neutral. Although it seems positive that the carrier should receive up to $200M-worth of compensation this year, this amount still falls below Spirit’s 2023 maintenance expense of $223M. Moreover, this announcement did not lead the carrier to adjust any aspects of its 2024 guide. Citi maintains a Neutral rating on the shares."

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 $4.84 yesterday.

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