Alaska Air shares up after raising Q4 profit forecast

Alk-Abello A/S

10/12/2024 14:43

(Updates)
    ** Alaska Air Group's  ALK.N  shares rise 13% to $61 in
early trade
    ** ALK raised Q4 profit forecast on Tuesday owing to robust
travel demand and improved pricing
    ** Co expects Q4 profit per share to be between 40 cents and
50 cents, compared with the range of 20 cents to 40 cents
forecast earlier
    ** ALK expects to benefit from its acquisition of rival
Hawaiian Airlines, which it completed in September
    ** Expects profit for 2025 to be at least $5.75 per share,
above analysts' expectation of $5.50 per share, according to
data compiled by LSEG
    ** Fourteen of 17 brokerages rate the stock "buy" or higher
and three "hold"; their median PT is $63 - LSEG data
    ** Up to last close, ALK up 38.62% YTD

 (Reporting by Anshuman Tripathy)
 ((Anshuman.Tripathy@thomsonreuters.com))