From Nasdaq:

1. US Department of Transportation reports smooth travel over the holidays with a cancellation rate of just 0.8%. This is a significant improvement from previous years, with the cancellation rate during the same period in 2022 at 8.2%. In 2023, there were 16.3 million domestic flights with a cancellation rate below 1.2%.

2. Three highly-ranked airline stocks poised to move higher in 2024 include SkyWest (SKYW), American Airlines (AAL), and Ryanair (RYAAY). With SkyWest expected to rebound in 2024, American Airlines’ total sales projected to rise, and Ryanair showing positive earnings estimate revisions, these stocks are worth keeping an eye on.

3. SkyWest Airlines (SKYW), a regional operator primarily in the Midwestern and Western US, is forecasted to see a significant rebound in earnings in 2024. With its stock trading around $50, the projections put the company at a very reasonable 10.2X forward earnings multiple, making it an attractive investment option.

4. American Airlines (AAL), the largest domestic and world’s largest airline, continues to look undervalued at $12 and just 5.5X forward earnings. Although FY24 earnings are forecasted to dip, total sales are expected to rise by 8% in FY23 and another 4% in FY24, indicating the potential for the stock to move higher.

5. Ryanair (RYAAY), a low-fare carrier offering airline services in various parts of Europe, has seen positive earnings estimate revisions and top-line growth, making it a post-pandemic winner among airline carriers. The stock is rated Zacks Rank #1 (Strong Buy), and its earnings are expected to soar in FY24 and FY25.

6. Lower cancellations are a testament to the strengthening of airline travel in the US, with SkyWest and American Airlines poised to benefit. Meanwhile, Ryanair has made a niche among foreign airliners. With the potential for these airline stocks to move higher in 2024, it’s an ideal time to invest.

7. Zacks has identified a semiconductor stock that is positioned for rapid growth, with strong earnings growth and a growing customer base. This stock is expected to capitalize on the explosive growth of the global semiconductor manufacturing industry, making it a compelling investment opportunity.

8. For additional stock analysis and investment recommendations, users can access free stock analysis reports and articles on Zacks.com by following the provided links.



Read more: 3 Airline Stocks That Could Fly Higher in 2024