Shares of airline companies are trading higher amid easing oil prices after U.S. Treasury Secretary Scott Bessent said there is a chance a deal could be reached that reopens the Strait of Hormuz.

Raymond James Upgrades Allegiant Travel to Strong Buy, Lowers Price Target to $116

Raymond James analyst Savanthi Syth upgrades Allegiant Travel (NASDAQ:ALGT) from Outperform to Strong Buy and lowers the price target from $138 to $116.

Shares of airline companies are trading lower amid an oil price rebound. Expectations for U.S.-Iran negotiations over Strait of Hormuz passage are frozen, with the U.S. threatening major economic pressure on Iran and its trade partners, an approach that may leave energy prices elevated for longer.

Shares of airline companies are trading lower as oil prices rise amid a lack of new U.S.-Iran negotiations. Also, elevated energy costs, inflation expectations and bond yields may lead to weaker passenger demand and pricier aircraft financing costs.

Shares of airline companies are trading lower amid a rise in oil prices as investors weigh in on a possible impasse in U.S.-Iran negotiations.

Airline Stocks Rally, Treasury Yields Fall as Oil Tumbles on Iran Sanctions

Every major US carrier opened higher as crude fell 3% on Iran de-escalation signals, while Treasury yields fell across the curve and energy lagged.

Raymond James Maintains Outperform on Alaska Air Group, Lowers Price Target to $52

Raymond James analyst Savanthi Syth maintains Alaska Air Group (NYSE:ALK) with a Outperform and lowers the price target from $60 to $52.