Spirit Airlines (SAVE) is Upgraded by Stifel to Buy, Price Target at $60

Spirit Airlines (SAVE) is Upgraded by Stifel to Buy according to the research report released to the investors. The brokerage firm has set the Price Target of the shares at $60. Earlier the firm had a rating of Hold on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of Spirit Airlines, Inc. (NASDAQ:SAVE) ended Thursday session in red amid volatile trading. The shares closed down 1.04 points or 2.51% at $40.43 with 1,989,925 shares getting traded. Post opening the session at $41.74, the shares hit an intraday low of $40.4 and an intraday high of $42.45 and the price vacillated in this range throughout the day. The company has a market cap of $2,892 million and the number of outstanding shares has been calculated to be 71,539,630 shares. The 52-week high of Spirit Airlines, Inc. (NASDAQ:SAVE) is $83.45 and the 52-week low is $32.73.

During the last several months other analysts have commented on the company rating. Equity Analysts at the Brokerage Firm, Barclays, maintains their rating on the shares of Spirit Airlines, Inc. (NASDAQ:SAVE). Barclays has a Overweight rating on the shares. As per the latest research report, the brokerage house lowers the price target to $54 per share from a prior target of $64. The rating by the firm was issued on November 24, 2015.

Research firm Zacks has rated Spirit Airlines, Inc. (NASDAQ:SAVE) and has ranked it at 3, indicating that for the short term the shares are a hold. 10 Wall Street analysts have given the company an average rating of 1.6. The shares has received a hold rating based on the suggestion from 3 analysts in latest recommendations. Strong buy was given by 7 Wall Street Analysts.

Spirit Airlines, Inc. (NASDAQ:SAVE): According to 8 Analysts, The short term target price has been estimated at $ 57.88.The target price could deviate by a maximum of $13.09 from the forecast price. In the near term, the target price could hit a high of $85 and a low of $ 42.

Spirit Airlines, Inc. has dropped 4.6% in the last five trading days, however, the shares have posted positive gains of 14.66% in the last 4 weeks. Spirit Airlines, Inc. has dropped 20.26% during the last 3-month period . Year-to-Date the stock performance stands at -46.51%.

Spirit Airlines, Inc. (Spirit) is an airline company. The Company’s all-Airbus fleet, as of December 31, 2012, operated approximately 200 daily flights to over 50 destinations in the United States, Caribbean and Latin America. As of December 31, 2012, its route network included 110 markets served by 52 airports throughout North America, Central America, South America and the Caribbean. As of December 31, 2012, Ft. Lauderdale/Hollywood International Airport (FLL) remained its airport served, with over 20% of its capacity operating to or from FLL. During the year ended December 31, 2012, it operated international service 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. The Company also sells mileage credits to companies participating in the FREE SPIRIT program.