Caribou"Nobody's focused on this," said Helane Becker, analyst at Benchmark Co. "The only person to do anything on this raised their estimate from a loss of 66 cents to a loss of 44 cents. Certainly analysts are not focused on their earnings right now. This company is being overlooked and that's why we have it a buy." Indeed, a month ago, Citigroup Smith Barney dropped coverage on the company "as part of an effort to more effectively deploy" its research. Major brokerages rarely issue company-specific notes on Alaska Air, generally only mentioning the name in sector analyses. And because Alaska Air rarely does investment banking, there's less incentive to cover the airline closely.
The Alaska Airlines StoryDespite a balance sheet that's stronger than many in the industry, Alaska Air is relatively unknown on the East Coast. One of the nation's 10 largest airlines, the company has hubs in Anchorage, Alaska; Portland, Ore.; Los Angeles; and Seattle, and generated more than $2 billion in sales last year.
|Alaska Air's Earnings a Tough Call |
|*Excludes gain from government aid. |
Source: Thomson First Call
|Dog of the Dow |
Stock performance of transport components since March 11
|Worst in the Dow Index|
|Atlantic Coast Airlines||107|