Alaska Air Group, Inc (NYSE:ALK) reported better-than-expected earnings and sales results for its second quarter.
Alaska Air reported second-quarter FY23 operating revenue growth of 7% year-over-year to $2.84 billion, beating the consensus of $2.77 billion. Adjusted EPS was $3.00 compared to $2.19 in 2Q22, beating the consensus of $2.70.
The company said it sees 0%-3% topline growth in the third quarter.
Alaska Air shares fell 9.7% to close at $48.18 on Tuesday.
These analysts made changes to their price targets on Alaska Air following earnings announcement.
- Goldman Sachs cut the price target on Alaska Air from $63 to $61. Goldman Sachs analyst Catherine O'Brien maintained a Buy rating.
- Barclays slashed the price target on Alaska Air from $66 to $62. Barclays analyst Brandon Oglenski maintained an Overweight rating.
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