Stock Rating Upgrade
The Value Trend Rating for Spirit Airlines Inc (NYSE: SAVE) improved of late from D to C reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
Spirit Airlines Inc (NYSE: SAVE) stock closed at $4.85 on 3/8/24 after a decline of -4.9%. However, unusually low trading volume at 51% of normal accompanied the decline. The stock has been extremely weak relative to the market over the last nine months and has declined -24.8% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, SAVE is expected to continue to be a modest Value Builder.
Spirit Airlines has a current Value Trend Rating of C (Low Neutral). This VT Rating improved in recent days from D previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Spirit Airlines has a very high Appreciation Score of 90 but a very low Power Rating of 3, triggering the Low Neutral Value Trend Rating.
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