At an initial reading of the headlines, the surprisingly robust September jobs report should bode well for companies like Alaska Air (ALK). Basically, with more people earning steady paychecks, discretionary funds have a chance to build. Combine this dynamic with the underlying security of a viable labor force and the revenge travel sentiment may lift ALK stock higher.
Sure enough, the unanimous view among 11 Wall Street analysts rate Alaska Air a strong buy. Drilling into quantifiable expectations, the average price target lands at $62.11, up 77% from Friday’s closing price of $35.07. Notably, the high-side target stands at $75 while the minimum target clocks in at $50, which still represents a 42.6% return.
