Spirit Airlines (SAVE) PT Raised to $46 at Cowen

Cowen raised its price target on Spirit Airlines (NASDAQ: SAVE) to $46.00 (from $39.00) while maintaining a Market Perform rating.

Analyst Helane Becker commented, "Spirit Airlines produced a solid quarter and offered an upbeat 2H18 outlook. Ancillary revenue offerings are performing well and capacity growth is expected to slow from +26% in 1H18 to +19% in 2H18. Average base fares of $58 are down from last year, but ancillary revenue per passenger is actually up, and approaching $55. The trend is heading in the right direction."

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