Benzinga | Dec 22, 2021 06:53AM EST

Evercore Sees 71% Upside In Sun Country Airlines

* Evercore ISI analyst Duane Pfennigwerth initiated Sun Country Airlines Holdings Inc (NASDAQ:SNCY) with an Outperform rating and a price target of $45, implying an upside of 71%.

* The analyst noted flexible capacity planning, a clean balance sheet, and a "scale sweet spot" for growth position the company well to deliver attractive earnings growth to recovery and beyond.

* Pfennigwerth further added that Sun Country has successfully driven charter growth during off-peak periods, while its new labor agreement opens up growth and expansion with Amazon.com, Inc. (NASDAQ:AMZN).

* Price Action: SNCY shares closed higher by 5.28% at $26.30 on Tuesday.