Raymond James cuts Alaska Air's PT, cites fuel costs

Alk-Abello A/S

31/03/2026 14:07

** Raymond James cuts price target on Alaska Air ALK.N to $50 from $70; reiterates "outperform" rating

** New PT still represents a 46.2% upside to stock's last close

** Brokerage says ALK has been significantly hurt by volatility in refining margins, especially in Singapore, which supplies ~20% of its fuel and is usually its cheapest source

** Raymond James notes ALK cited demand weakness in Mexico tied to unrest in Puerto Vallarta, along with severe rainstorms and historic flooding in Hawaii

** Adds that Puerto Vallarta and Hawaii make up about 30% of Alaska’s capacity, and both March and April are affected

** Median PT of 18 brokerages covering the stock is $67 - data compiled by LSEG

** As of last close, ALK down 32% YTD

 (Reporting by Megavarshini G. Somasundaram in Bengaluru)

 ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))