Alaska Air Group (NYSE:ALK): This company has a big West Coast exposure and continues to rank high on Wall Street as consumers return to the sky for business and holiday travel.
Alaska Air Group is the parent company of Alaska Airlines. The company serves more than 100 cities through an expansive network in Alaska, the Lower 48, Hawaii, Canada and Mexico. Despite recent challenges by other carriers for superiority in the Northwest, the company has strong customer loyalty, which has contributed to outstanding earnings and revenue growth.
Alaska Air Group focuses on point-to-point traffic in the Pacific Northwest. However, about 20% of its traffic connects over its hubs in Anchorage, Alaska; Seattle, and to a lesser extent Portland, Oregon.
By developing transcontinental markets, and more recently adding Hawaii, the company has transformed from a largely North-South directional carrier to one with a much more balanced network.
We have a target price of 98.00 Vs BofA Securities price target for the company is 80. That is versus a slightly higher Wall Street consensus target of $81.71. The stock is oversold in here and the Key support is at 62.43.
Alaska Air Group is trading premarket in NY at 63.27.
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