Citi Reiterates Sell Rating on Spirit Airlines (SAVE)

Citi analyst Stephen Trent reiterated a Sell rating and $3.50 price target on Spirit Airlines (NYSE: SAVE).

The analyst commented, "Spirit Airline’s 2Q guidance update looks negative. While the carrier sees ticket revenue coming in-line with their forecasts, non-ticket revenue came in below expectations, which contributed to some margin drag. Separately, fuel prices coming two pennies per gallon below the original guide should mildly offset the above items. Assuming risk-neutral market conditions, these results could put Sell-rated Spirit Airlines’ shares under modest pressure on Wednesday morning."

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 $3.16 yesterday.

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