Spirit Airlines (SAVE) PT Raised to $61 at Imperial Capital

Imperial Capital raised its price target on Spirit Airlines (NASDAQ: SAVE) to $61.00 (from $53.00) while maintaining a Outperform rating following the company's 2Q earnings report.

Imperial Capital raised 3Q EPS estimates to $1.16 from $0.63, FY18 EPS estimates to $3.40 from $2.70, and our FY19 EPS estimates to $4.50 from $3.65. FY18 estimates now assume TRASM declines 0.75% vs. 2.5% previously, and CASM ex-fuel declines 3.75% vs. 4% previously.

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