In a recent update, TD Cowen analyst Tom Fitzgerald has adjusted the price target for Alaska Air (ALK, Financial), raising it from $54 to $62, while maintaining a Buy rating on the stock. This revision comes after a thorough review of the company's first-quarter results and its forward guidance for the second quarter.
The analyst's optimistic outlook is based on several factors that are expected to enhance Alaska Air's performance. Notably, the anticipated benefits from merger synergies play a significant role in the forecast. Additionally, the growth in premium and loyalty services, along with the expansion into new long-haul markets, is projected to contribute positively to the airline's financial prospects.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 13 analysts, the average target price for Alaska Air Group Inc (ALK, Financial) is $67.18 with a high estimate of $90.00 and a low estimate of $54.00. The average target implies an upside of 61.84% from the current price of $41.51. More detailed estimate data can be found on the Alaska Air Group Inc (ALK) Forecast page.
Based on the consensus recommendation from 17 brokerage firms, Alaska Air Group Inc's (ALK, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Alaska Air Group Inc (ALK, Financial) in one year is $70.14, suggesting a upside of 68.97% from the current price of $41.51. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Alaska Air Group Inc (ALK) Summary page.