Credit Suisse Upgrades Spirit Airlines Incorporated to Outperform with Price Target $55.00

Brokerage firm Credit Suisse Upgrades its rating on Spirit Airlines Incorporated(NASDAQ:SAVE). In a research note issued to the investors, the brokerage major Raises the price-target to $55.00 per share. The shares have been rated Outperform. Previously, the analysts had a Neutral rating on the shares. The rating by Credit Suisse was issued on Jun 20, 2016.

In a different note, On Apr 26, 2016, Credit Suisse said it Maintains its rating on Spirit Airlines Incorporated. In the research note, the firm Lowers the price-target to $46.00 per share. The shares have been rated ‘Neutral’ by the firm. On Apr 20, 2016, JP Morgan said it Downgrades its rating on Spirit Airlines Incorporated. In the research note, the firm Raises the price-target to $51.00 per share. The shares have been rated ‘Neutral’ by the firm. On Apr 19, 2016, Citigroup said it Maintains its rating on Spirit Airlines Incorporated. In the research note, the firm Raises the price-target to $57.00 per share. The shares have been rated ‘Buy’ by the firm.

Spirit Airlines Incorporated (SAVE) shares turned negative on Fridays trading session with the shares closing down -1.6 points or -3.65% at a volume of 27,10,424. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $42.91. The peak price level was also seen at $42.91 while the days lowest was $41.46. Finally the shares closed at $42.29. The 52-week high of the shares is $65.65 while the 52-week low is $32.73. According to the latest information available, the market cap of the company is $3,011 M.

Spirit Airlines Incorporated(SAVE) last announced its earnings results on Apr 26, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $538.14M. Analysts had an estimated revenue of $530.13M. Earnings per share were $1.01. Analysts had estimated an EPS of $0.90.

Several Insider Transactions has been reported to the SEC. On Mar 18, 2016, David G Elkins (director) purchased 1,500 shares at $47.92 per share price.Also, On Mar 8, 2016, John A. Bendoraitis (Senior VP and COO) sold 730 shares at $49.00 per share price.On Dec 17, 2015, Thomas C Canfield (Sr VP, General Counsel and Sec) purchased 1,000 shares at $41.70 per share price, according to the Form-4 filing with the securities and exchange commission.

Spirit Airlines Inc. is an airline company. The Company’s all-Airbus fleet operates more than 300 daily flights to 56 destinations in the United States Caribbean and Latin America. Its ultra-low-cost carrier (ULCC) business model provides low base fares with a range of optional services. The Company’s route network includes approximately 151 markets served by 56 airports throughout North America Central America South America and the Caribbean. The Company operates international services to Aruba the Bahamas Colombia Costa Rica Dominican Republic El Salvador Guatemala Haiti Honduras Jamaica Mexico Nicaragua Panama Peru and St. Maarten as well as Puerto Rico and the United States Virgin Islands.

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