Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Shares of Allegiant Travel Co. still a Buy after 60 Minutes investigation, says Stifel analyst

Monday, April 16, 2018 5:49
% of readers think this story is Fact. Add your two cents.

CBS’s 60 Minutes aired a segment on Allegiant Air, owned by Allegiant Travel Company (NASDAQ:ALGT), on Sunday night, revealing their findings after a seven-month-long investigation into the budget airline.

60 Minutes called Allegiant Air the “most dangerous” airline in the U.S.

“We found more than 100 serious mechanical incidents, including mid-air engine failures, smoke and fumes in the cabin, rapid descents, flight control malfunctions, hydraulic leaks and aborted take-offs,” said correspondent Steve Kroft.

Allegiant Air issued a statement in response to the investigation, saying that the report was “irresponsible and grossly misleading” and involved a “terminated employee currently involved in a lawsuit seeking money damages from the company.”

Nevertheless, Stifel analyst Joseph DeNardi maintained a Buy rating. While he acknowledged the investigation will likely have a short-term impact on bookings, he noted that Allegiant Air will be an “all A320 airline” within the next eight months and that its Q1 report will likely boost the share price.

Shares of the commercial airline were down 8.6% to US$151.05 on Monday morning.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/195048/shares-of-allegiant-travel-co-still-a-buy-after-60-minutes-investigation-says-stifel-analyst-195048.html

We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.