BUZZ-Citi Research raises Alaska Air's PT on smooth Hawaiian merger transition

Reuters12-16

** Citi Research raises PT on Alaska Air Group to $74 from $63; maintains "buy" rating

** "Alaska Air’s integration of Hawaiian Airlines appears to be outperforming what we are accustomed to seeing in historical airline mergers in the Americas," says Citi

** ALK in Sept. completed its $1.9 billion acquisition of Hawaiian Airlines after reaching an agreement with the U.S. Department of Transportation

** Brokerage says Alaska Air’s merger integration commentary seemed to be more optimistic than market anticipated, with management stating that it should not see any margin dilution from the merger with Hawaiian

** New PT represents a 16.7% upside to stock's last close

** 15 of 17 brokerages rate the stock "buy" or "higher", 2 "hold"; with a median PT of $73, according to data compiled by LSEG

** Up to last close, shares up ~60% YTD

(Reporting by Rupali Chaudhary in Bengaluru)

((Rupali.Chaudhary@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment