On Friday airline company Alaska Air Group, Inc. (ALK) was upgraded by Morgan Stanley to an “Equal Weight.”
Morgan Stanley raised its rating on ALK to an “Equal-Weight,” and boosted the company’s price target to $65. This increased price target suggests that the stock will rise 8% from its current price of $59.56.
Analysts have upgraded the stock based on its improved FY2013 and FY2014 estimates. The firm sees the company having margin strength and believes that it may be able to generate cash returns.
ALK initiated its first quarterly dividend of 20 cents per share on Thursday.
Alaska Air Group shares were up $3.60, or 6.04% during premarket trading Friday. The stock is up 38% YTD.
The Bottom Line
Shares of Alaska Air Group, Inc. (ALK) have a 1.34% yield, based on Thursday’s closing price of $59.56.
Alaska Air Group, Inc. (ALK) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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