Is Alaska Air (ALK) One Of The 10 Stocks That Will Skyrocket When Oil Prices Fall?

Alaska Air Group, Inc. (NYSE:ALK) is one of the 10 Stocks That Will Skyrocket When Oil Prices Fall. On April 2, TD Cowen analyst Thomas Fitzgerald reiterated his Buy rating on Alaska Air Group, Inc. (NYSE:ALK) while lowering the firm’s price target. He cut the firm’s price target on the stock from $66 to $45. The downward-adjusted price target still offers 14% upside from the current levels. The price target revision was part of the firm’s first-quarter earnings preview, where it reduced price targets across the airline sector.

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According to the analyst, investors are becoming more cautious about the strength of travel demand, mainly due to expectations of prolonged higher energy prices and slowing credit card spending. As a result, TD Cowen’s estimates for the six major airlines are now below market consensus heading into the first quarter.

Earlier, on March 31, Goldman Sachs analyst Catherine O’Brien also took a similar stance on Alaska Air Group, Inc. (NYSE:ALK). She lowered the firm’s price target on the stock from $68 to $61 while maintaining a Buy rating. The firm’s revised price target reflects an additional 54% upside from the current levels.

Alaska Air Group, Inc. (NYSE:ALK) is an airline company offering scheduled passenger and cargo services using Boeing jet aircraft across the United States. It also operates in parts of Mexico, Belize, Canada, Guatemala, Costa Rica, and the Bahamas. The company operates in the Hawaiian Airlines, Alaska Airlines, and Regional segments.

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