Analysts Revise Alaska Air Group Forecasts Ahead of Earnings

Alaska Air Group Inc. (NYSE:ALK) is scheduled to report its first-quarter earnings results after markets close on Wednesday, April 23. Analysts expect the airline to post a loss of $0.77 per share. This compares to a loss of $0.92 per share during the same period last year. Revenue is projected to come in at $3.16 billion, up from $2.23 billion a year earlier, according to Benzinga Pro.

The company last reported earnings on January 22, posting better-than-expected results for both revenue and earnings per share. As anticipation builds for the upcoming earnings call, several top analysts have adjusted their outlooks.

Barclays analyst Brandon Oglenski maintained an "Overweight" rating on April 8 but lowered the price target from $80 to $62. Susquehanna’s Christopher Stathoulopoulos, with a 74% accuracy rate, kept a "Positive" rating but cut the price target from $95 to $55 on April 7. UBS's Thomas Wadewitz downgraded the stock to "Neutral" from "Buy" and dropped the target from $75 to $54.

On March 18, Citigroup analyst Stephen Trent reaffirmed a "Buy" rating and slightly trimmed the price target from $83 to $81. JP Morgan’s Jamie Baker raised the target from $85 to $89 while maintaining an "Overweight" rating on March 3. On Tuesday, Alaska Air shares rose 2.93% to close at $44.94.

Technical Analysis

The stock found support near the $44 level, forming a potential base. If this support holds, ALK may target the $50 range or higher. However, a break below support could push the price down toward $40. All major moving averages are trending lower. The 50-day, 100-day, and 200-day moving averages stand at $57, $61, and $51, respectively, signaling ongoing bearish momentum.