UBS Maintains a 'Buy' on Allegiant Travel (ALGT); Q3 Beat, Strong Revenue Guidance

UBS maintains a 'Buy' on Allegiant Travel Company (NASDAQ: ALGT) price target�upped $2 to�$60.00.

UBS analyst says, "ALGT reported 3Q EPS of $0.49 – comfortably ahead of Street $0.44 and above our $0.48. Actual results were unimportantly different from our model in all key aspects. Revenue growth was a strong 17% based on 21% higher average base fares. Unit operating expenses were high but not unexpectedly so, up 15%."

"ALGT should make significant progress in the next few qtrs on several big initiatives currently underway: 1. more seats on MD80s, 2. flying to Hawaii, and 3. revamping the automation platform. We are most positive on the additional seats on the MD80s but expect the company to make a solid case for all projects at their investor day on Nov. 10. We continue to see upside to shares and rate the stock a Buy."

For more ratings news on Allegiant Travel Company click here and for the rating history of Allegiant Travel Company click here.

Shares of Allegiant Travel Company closed at $52.62 yesterday.

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