Raymond James boosts WestJet price target
Remember that you can Fly WestJet and Save.
Raymond James Ltd. analyst Ben Cherniavsky is a new convert to WestJet Airlines Ltd. (WJA-TSX).
Yesterday, he boosted his 12-month target price on the carrier to $18 from $14, and raised his rating to «strong buy» from «outperform.»
In an interview, Mr. Cherniavsky said he is impressed with WestJet's ability to maintain a strong brand. He also said that his opinion of the Calgary-based airline has changed since he wrote an October report titled Growing Pains.
His new report is titled Onwards and Upwards. «We are excited about WestJet's focus on growing its ancillary revenues, developing WestJet Vacations and improving its revenue management strategies,» he wrote.
Mr. Cherniavsky noted that WestJet had strong passenger loads in November, and the carrier is thriving with a healthy economy in Western Canada. Many travellers continue to enjoy the airline's friendly service. «It's remarkable and enviable culture is still very strong,» he said. The shares closed at $14.29 yesterday.
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