If there is any holiday celebrated in the United States that is among the favorites among all citizens, it has to be Independence Day. It transcends all walks of life, and the secular nature of the celebration makes it one for all residents, honoring a day that is perhaps the most important in the nation’s history. From the largest cities to the smallest rural communities, the pride and participation of small kids to senior citizens mark this truly special day.
At 24/7 Wall St. we thought it was a good time to look at top companies that are usually big winners, and may be even bigger this year as the celebration falls on a Sunday, so many may be up for an extended long weekend as the national holiday is set for Monday, July 5. With parades, barbecues, boating, bands and much more, many Americans will be going to the store to get provisions for the big day, or heading out to travel for fun vacations.
We screened the BofA Securities research database and found five top companies that may have a solid start to the third quarter because of the holiday. All their stocks are rated Buy. It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
This company has big west coast exposure and continues to rank high on Wall Street as consumers return to the sky for business and holiday travel. Alaska Air Group Inc. (NYSE: ALK) is the parent company of Alaska Airlines, which serves more than 100 cities through an expansive network in Alaska, the Lower 48, Hawaii, Canada and Mexico. Despite recent challenges by other carriers for superiority in the Northwest, the company has strong customer loyalty, which has contributed to outstanding earnings and revenue growth.
Alaska Air focuses on point-to-point traffic in the Pacific Northwest. However, about 20% of its traffic connects over its hubs in Anchorage, Seattle, and to a lesser extent Portland. By developing transcontinental markets, and more recently Hawaii, the company has transformed from a largely north-south directional carrier to one with a more balanced network.
The BofA Securities price target for the shares is $80. The slightly higher Wall Street consensus target price is $81.71. The final trade for Alaska Air Group stock on Thursday was reported at $61.43 a share.