Shares of Sun Country Airlines Holdings, Inc. (SNCY) surged 9.08% on Wednesday, October 31, 2024, as the airline received a bullish analyst rating and reported solid quarterly earnings results.
Analyst Helane Becker of TD Cowen reiterated a "Buy" rating on SNCY, with a price target of $20.00. This positive analyst coverage likely boosted investor confidence in the company's prospects, contributing to the stock's upward movement.
Additionally, SNCY reported its quarterly earnings results for the period ended January 1. While the company met earnings expectations of $0.06 per share, its revenue of $249.47 million was slightly lower than the expected $250.47 million. However, analysts had revised their earnings estimates upwards in the past 30 days, indicating positive sentiment towards the company's future performance.
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