Spirit Airlines (SAVE) PT Lowered to $54 at Deutsche Bank
Deutsche Bank lowered its price target on Spirit Airlines (NASDAQ: SAVE) to $54.00 (from $69.00) while maintaining a Buy rating.
Analyst Michael Linenberg notes the primary concern among investors is that we are on the cusp of a repeat of what we observed in 2015 when competition intensified between AAL and SAVE. "At this point, we're not convinced this is the case, but are closely monitoring the situation. At 10.4x our revised forecast, SAVE warrants a Buy," he commented.