Alaska Air Group Stock Flies Higher on Upgrade

Core Viewpoint - Alaska Air Group Inc's stock has seen a positive uptick following upgrades from UBS and J.P. Morgan, indicating strong market confidence in the company's future initiatives and performance [1][2]. Group 1: Stock Performance - Alaska Air's stock is currently trading at $65.04, reflecting a 1.8% increase [1]. - The stock is at its highest levels since March and is entering positive territory for 2025 [3]. - The 40-day moving average provided support for the stock from mid-July to mid-August, while the 20-day moving average has recently supported the stock's climb [3]. Group 2: Analyst Upgrades - UBS upgraded Alaska Air from "neutral" to "buy," raising the price target from $56 to $90 [1]. - J.P. Morgan also increased its price target for Alaska Air from $73 to $96 [1]. Group 3: Options Activity - Call options have been heavily favored, with a ratio of 53.73 calls for every put in the last two weeks, ranking higher than 95% of readings over the past year [4]. - Options are currently reasonably priced, with Alaska Air's Schaeffer's Volatility Index (SVI) at 46%, placing it in the low 17th percentile of its annual range [5]. - The equity has historically outperformed volatility expectations, as indicated by a Schaeffer's Volatility Scorecard (SVS) of 94 out of 100 [5]. Group 4: Company Developments - Alaska Air announced that Diana Birkett Rakow will become the CEO of Hawaiian Airlines, which merged with Alaska Air a year ago [2]. - The airline is set to begin nonstop service between Seattle and Seoul starting today [2].