Here’s Why TD Cowen Lowered Price Target on Alaska Air (ALK)

​Alaska Air Group, Inc. (NYSE:ALK) is one of the Best Growth Stocks to Buy With Highest Upside Potential. On April 2, TD Cowen lowered the firm’s price target on Alaska Air Group, Inc. (NYSE:ALK) from $66 to $45. The firm noted reducing price targets in the airline group as part of its sector Q1 earnings preview.

TD Cowen highlighted that investors are skeptical of the resilience of global travel due to the prolonged fuel price hike and also noted decelerating credit card data. The analysts said in a research note that the firm’s estimates for the group are below the consensus estimates before the Q1 earnings.

​Earlier, on March 23, BMO Capital had initiated an Outperform rating on Alaska Air Group, Inc. (NYSE:ALK) with a price target of $50. The analysts said in a research note that they see a long-term profit improvement opportunity for the airline, mainly driven by its execution of a clear strategic framework. The firm likes that the company is integrating Hawaiian Airlines, reducing leverage, and transitioning towards a more international approach.

​Alaska Air Group, Inc. (NYSE:ALK) is a U.S. airline holding company that operates Alaska Airlines, Hawaiian Airlines, and Horizon Air, providing passenger and cargo services across North America, Latin America, Asia, and the Pacific.

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