Alaska Air Group Price Target Raised to $70.50 at JPMorgan Chase & Co. (ALK)
Stock analysts at JPMorgan Chase & Co. increased their price objective on shares of Alaska Air Group (NYSE:ALK) from $67.00 to $70.50 in a report issued on Friday, AnalystRatings.Net reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target would suggest a potential upside of 0.50% from the company’s current price.
Shares of Alaska Air Group (NYSE:ALK) traded up 0.67% during mid-day trading on Friday, hitting $70.15. 530,187 shares of the company’s stock traded hands. Alaska Air Group has a 52-week low of $32.69 and a 52-week high of $68.00. The stock has a 50-day moving average of $59.53 and a 200-day moving average of $58.8. The company has a market cap of $4.901 billion and a P/E ratio of 14.25.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 24th. The company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.23. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted $2.09 earnings per share. The company’s quarterly revenue was up 22.4% on a year-over-year basis. On average, analysts predict that Alaska Air Group will post $5.12 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company initiated coverage on shares of Alaska Air Group in a research note to investors on Friday. They set an “outperform” rating and a $83.00 price target on the stock. Separately, analysts at Imperial Capital raised their price target on shares of Alaska Air Group from $70.00 to $78.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Imperial Capital upgraded shares of Alaska Air Group from an “in-line” rating to an “outperform” rating in a research note to investors on Tuesday, October 15th. They now have a $70.00 price target on the stock, up previously from $63.00. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Alaska Air Group currently has a consensus rating of “Buy” and an average price target of $71.32.
Alaska Air Group, Inc (NYSE:ALK) is the holding company for Alaska Airlines and Horizon Air.
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