UPDATE: Imperial Capital Reiterates On Allegiant Travel Company On Increased Estimates

In a report published Wednesday, Imperial Capital analyst Bob McAdoo reiterated an Outperform rating on Allegiant Travel Company (NASDAQ: ALGT), and raised the price target from $135.00 to $142.00.

In the report, Imperial Capital noted, “We are maintaining our Outperform rating and raising our one-year price target to $142 from $135.

"Additionally, we recently provided highlights on ALGT at the Imperial Capital Best Ideas Presentation Series held in New York on 5/20/14. Updated operating guidance released on 7/7/14 suggests that consumer demand remains robust for ALGT's differentiated airline product. This differentiation has led ALGT to double-digit growth across revenue, earnings, and share appreciation since becoming a public company in 2006, which is a trend we expect to continue with additional aircraft deliveries through 2018 and the addition of new markets.

"The company is expected to release its 2Q14 operating results after the close on 7/23/14. Our $142 price target represents 20% potential upside from recent trading levels.”

Allegiant Travel Company closed on Tuesday at $118.61.