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These are 4 airline stocks to own for 2023 according to Goldman Sachs

Stock Markets Dec 16, 2022 08:48
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By Senad Karaahmetovic

Goldman Sachs resumed research coverage of the U.S. Airlines, highlighting four Buy-rated stocks. Supply is expected to remain constrained, compared to pre-pandemic times, although analysts note that further improvement is expected through 2023.

They are also positive about the environment for airlines, although this is likely to be offset by uncertainty stemming from the economic outlook.

“In this environment, we favor stocks with idiosyncratic earnings drivers, relatively more recovery tailwinds remaining, or characteristics that reduce downside risk,” they told clients in a note.

Along these lines, the analysts highlighted Alaska Air Group (NYSE:ALK), Allegiant Travel Company (NASDAQ:ALGT), Delta Air Lines (NYSE:DAL), and United Airlines (NASDAQ:UAL).

They are less positive about American Airlines (NASDAQ:AAL), Southwest Airlines (NYSE:LUV), and Sun Country Airlines (NASDAQ:SNCY) as these stocks are started at Neutral.

Finally, they are Sell-rated on Hawaiian (NASDAQ:HA) and SkyWest (NASDAQ:SKYW).

Relative to its new price targets, the analysts see the highest upside in ALK and ALGT shares.

These are 4 airline stocks to own for 2023 according to Goldman Sachs
 
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