Shares of Frontier Group Holdings, Inc. (ULCC) plummeted 5.08% in Wednesday's pre-market trading session, as multiple analysts adjusted their outlook on the stock. The ultra-low-cost carrier faced headwinds as financial experts expressed caution about its near-term prospects.
UBS took a significant step by reducing its price target for Frontier Group Holdings from $4 to $3.5. This downward revision suggests a less optimistic view of the company's future performance. Meanwhile, Susquehanna analyst Christopher Stathoulopoulos maintained a Hold rating on the stock but set a conservative price target of $3.00, further adding to investor concerns.
Bank of America Securities analyst Andrew Didora also weighed in, reiterating a Hold rating with a price target of $4.00. Didora's analysis pointed to mixed financial signals and earnings per share (EPS) revisions, contributing to the cautious stance. The collective analyst actions, particularly the lowered price targets, appear to have triggered a sell-off among investors, leading to the sharp decline in Frontier's stock price during the pre-market session.
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