Credit Suisse Starts Virgin America (VA) at Underperform
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Credit Suisse initiates coverage on Virgin America (NASDAQ: VA) with a Underperform rating and a price target of $31.00 on a relatively higher risk profile.
Analyst J. Yates cited: (1) has a concentrated network vulnerable to competitive capacity in key markets; (2) has a less attractive growth profile than other LCCs; (3) has a narrowing cost advantage; and (4) faces greater structural risks including potential repeal of LGA perimeter rule, headwinds in Dallas Love Field, and concentrated private equity ownership.
Shares of Virgin America closed at $34.42 yesterday.
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