Why Spirit Airlines Stock Is Flying Higher Today
Shares of Spirit Airlines (NYSE: SAVE) traded up as much as 5% on Wednesday after the company received a double upgrade from one influential Wall Street analyst. JP Morgan analyst Jamie Baker gave the "all clear" signal on Wednesday, upgrading Spirit from underweight to overweight and raising his price target to $54 per share from $31. Baker said that while the pandemic did have a material impact on Spirit's profitability, he sees "material upside" relative to his price target.
