** J.P.Morgan raises target price on Alaska Air Group ALK.N to $85 from $58 in a note dated Dec 10; maintains "overweight" rating
** Says ALK will reliably be lumped into the legacy peer group post Hawaiian acquisition
** New PT represents 57% upside to stock's last close
** ALK on Tuesday unveiled a plan to generate $1 bln in additional profits by 2027 by leveraging its acquisition of Hawaiian Airlines and booming demand for premium travel
** 14 of 17 brokerages rate the stock "buy" or higher, three "hold"; their median PT is $67 - LSEG data
** As of last close, stock up ~57% YTD
(Reporting by Anshuman Tripathy)
((Anshuman.Tripathy@thomsonreuters.com))
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