Barclays Maintains an 'Overweight' on Spirit Airlines (SAVE); Adjusting Estimates on Softer-Than-Expected Q1

Barclays maintains an 'Overweight' on Spirit Airlines (NASDAQ: SAVE) price target of $29.00.

Analyst, David E. Fintzen, said, "SAVE reported its March traffic results as well as updated investor guidance. 1Q revenue, which is expected to grow ~29% y/y, is respectable by any standard, but did fall short of our expectations of 32%. As a result, 1Q EPS looks to be ~5c shy of our and consensus estimates of $0.38."

Fintzen lowers Q1 EPS from $0.38 to $0.32, FY12 remains at $1.90, FY13 raised to $2.35 from $2.30.

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 $22.05 yesterday.

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