Procore stock price target raised to $90 from Goldman Sachs on stabilizing growth
Investing.com - TD Cowen has raised its price target on Alaska Air (NYSE:ALK) to $65 from $61 while maintaining a Buy rating on the stock. The new target represents significant upside from ALK’s current price of $41.73, which is trading near its 52-week low of $39.79 compared to a high of $78.08.
The investment firm updated its estimates following Alaska Air ’s third-quarter 2025 results and fourth-quarter 2025 guidance on revenue per available seat mile (RASM) and cost per available seat mile excluding fuel (CASMex). According to InvestingPro data, Alaska Air is expected to grow revenue by 22% in fiscal year 2025.
TD Cowen models fourth-quarter adjusted earnings per share at $0.20, below company guidance, citing fuel costs and IT outage impacts. The firm notes that management expects to update guidance in early December, which it views as a potential clearing event for the stock.
The research note indicates that any easing of West Coast fuel prices would provide additional support for Alaska Air’s financial performance.
TD Cowen expects Alaska Air to begin harvesting the work of the past year in 2026 and 2027, with the new $65 price target representing 8 times the firm’s estimated 2027 adjusted earnings per share.
In other recent news, Alaska Air Group has delayed its fourth-quarter guidance due to recent information technology disruptions, planning to provide an update in early December. The company has already disclosed its third-quarter results through an SEC filing but will not hold an earnings call for that period. Additionally, Alaska Airlines faced downtime on its website and mobile app, following a significant technology outage that grounded flights across the United States. The airline has not detailed the cause of these technical issues.
In regulatory developments, Alaska Airlines received a single operating certificate from the Federal Aviation Administration to operate alongside Hawaiian Airlines, allowing both to function under a single call sign while maintaining separate brand identities. In expansion news, Alaska Airlines announced plans to introduce 13 new nonstop routes from its San Diego and Portland hubs, adding Tulsa, Oklahoma, and Arcata-Eureka, California, to its network by spring 2026. Meanwhile, UBS has lowered its price target for Alaska Air to $83, citing various factors affecting the airline’s fourth-quarter outlook, though the firm maintains a Buy rating on the stock. The analyst from UBS noted that many issues impacting the airline’s performance are expected to be one-time events.
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