Spirit Airlines shares boosted on strong Sept traffic

Shares of Spirit Airlines closed up 14.8% on Friday following strong September traffic results as well as being upgraded from neutral to buy from Citigroup. “Plugging this stronger guidance into our model boosts our estimates,” says Citigroup. “This, along with the shares’ ca. 1% decline since late July as the group has rallied, present a compelling backdrop for a Buy rating on the shares.”