Frontier stock jumps 14% as Spirit’s 2nd bankruptcy cuts rivalry
Frontier Group shares surged 14.5% on Tuesday after rival Spirit Airlines filed for bankruptcy again, raising hopes of lower domestic competition. Trading volume nearly doubled its 50-day average at 8.85 million shares. Deutsche Bank upgraded the stock to 'Buy' with a $8 target, citing 35-40% route overlap with Spirit. Stock is still down 22% YTD.