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Spirit Airlines' Problems: No End in Sight?

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Part 7
Spirit Airlines' Problems: No End in Sight? PART 7 OF 7

What Wall Street Analysts Recommend for Spirit Airlines

Analyst ratings

As of September 21, 30.8% (four analysts) out of the 13 analysts tracking Spirit Airlines (SAVE) had a “strong buy” recommendation. Another 15.4% (two analysts) had a “buy” recommendation while the remaining 53.8% (seven analysts) had a “hold” rating on the stock. None of the analysts had a “sell” rating or a “strong sell” rating on the stock.

What Wall Street Analysts Recommend for Spirit Airlines

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Analyst upgrades

We saw four analyst downgrades after Spirit Airlines’ guidance cut. Peers Delta Air Lines (DAL), United Continental (UAL), JetBlue Airways (JBLU), and Southwest Airlines (LUV) also reduced their third-quarter guidance.

J.P. Morgan reduced its target price from $45 to $37. It also cut the rating to “neutral” from “overweight.” Barclays reduced its target price from $50 to $40. Imperial Capital reduced its target price from $42 to $32 and maintained its “in-line” rating. Deutsche Bank reduced its target price from $54 to $42.

Target price

Spirit Airlines has a 12-month consensus target price of $41.2, which is lower than the $66.2 target price the stock had after its 2Q17 earnings report. The highest target price is $55, and the lowest target price is $31. At the current target price, the stock has a return potential of 21.2% from September 21’s closing price of $34.0.

Investors can gain exposure to Spirit Airlines by investing in the First Trust Nasdaq Transportation ETF (FTXR), which invests 1.2% of its portfolio in SAVE.

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