Alaska Air Group's (ALK) bar for forward guidance inched higher after the stock price gained on positive results from peers due to improvement in demand in recent weeks, UBS said in a Monday research report.
UBS modeled Q2 EPS of $1.56, assuming a 2.5% growth in available seat miles, a 1% drop in revenue per available seat mile, a 7.5% rise in cost per available seat mile, and fuel prices of $2.50 per gallon.
For full-year fiscal 2025 guide, the brokerage believes the bar is at $3.25 to $3.75, compared with its estimate of $3.26 and the Street consensus of $3.31.
United Airlines (UAL) recently highlighted an acceleration in domestic corporate travel demand, which bodes well for Alaska Air, considering its leverage to corporate travel on the West Coast, according to the note.
The brokerage maintained its neutral rating on the stock and price target of $49 per share.
Price: 52.95, Change: +0.34, Percent Change: +0.65
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