Alaska Air (ALK) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
Here is how Alaska Air Group (ALK) and Joby Aviation, Inc. (JOBY) have performed compared to their sector so far this year.
Evercore ISI analyst Duane Pfennigwerth raised the firm's price target on Alaska Air to $75 from $70 and keeps an Outperform rating on the shares. Across the firm's airlines and lodging coverage, the analyst believes the post-election demand pickup was "quicker and stronger vs. initial expectations" and that the compressed period between Thanksgiving and peak Holidays, combined with a dose of late-year corporate travel, also likely contributed to stronger outcomes, says the analyst as the firm adjusting airline estimates and rolling its price targets to a 2026 basis.
The latest trading day saw Alaska Air Group (ALK) settling at $65.52, representing a +1.74% change from its previous close.
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ALK's efforts to expand its global reach are praiseworthy. The upbeat air travel demand also bodes well for the company.
Aeromexico, Saudia and Delta dominated the rankings for most on-time airlines last year. On-time arrivals are flights that arrive within 15 minutes of their scheduled time.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Alaska Air (ALK) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.
In the most recent trading session, Alaska Air Group (ALK) closed at $64.87, indicating a -1.46% shift from the previous trading day.