Every Wall Street Analyst Says Buy Alaska Air. The Stock Has Lost 43% in a Decade.

"The Alaska Accelerate strategy targets $10 in EPS by 2027 via $1 billion in incremental profit, a number that would represent a dramatic re-rating from current levels."

"Alaska placed a record 110-jet order with Boeing in January 2026 to support international growth, including new routes to Rome launching April 28, and London and Reykjavik in May 2026."

"Managed corporate travel rose 19% year-over-year, premium revenue grew 8%, and active loyalty members expanded 13%. These numbers reflect deliberate network repositioning."

"Q1 2026 adjusted EPS came in at −$1.68, missing the consensus estimate of −$1.59."

Alaska Air Group holds a unanimous buy consensus from analysts, with no holds or sells. The stock has underperformed, delivering a -43.8% return over the past decade. The bull thesis is based on three pillars: the Alaska Accelerate strategy aiming for $10 EPS by 2027, the acquisition of Hawaiian Airlines for network scale, and a record 110-jet order from Boeing for international growth. Despite positive revenue trends in Q1 2026, the stock has declined 37.2% over five years, with recent adjusted EPS missing estimates.

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