Allegiant Travel Company (ALGT) PT Raised to $70 at TD Cowen After Model Update

TD Cowen analyst Helane Becker raised the price target on Allegiant Travel Company (NASDAQ: ALGT) to $70.00 (from $50.00) while maintaining a Hold rating.

The analyst said: "We update our estimates to reflect the latest guidance. Recall ALGT was significantly impacted by hurricanes at the start of 4Q. Seeing faster-than-expected recovery as well as close-in holiday demand exceeding mgmt's expectations. TRASM now expected to be down 1.5% y/y vs prior of down 4.5%. CASMex lower due to $15mm gain on sale of CFM engines. Reit Hold, raise PT to $70 (11.5x 2025 EPS)."

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