10 Undervalued Stocks with the Highest Upside Potential

7. Alaska Air Group (NYSE:ALK)

Forward P/E Ratio: 9.92x

Upside Potential: 45%

Number of Hedge Fund Holders: 45

Alaska Air Group (NYSE:ALK) is a large US airline holding company with Alaska Airlines and Horizon Air carrying passengers and cargo both within and to and from United States destinations with recent expansions in overseas markets.

Alaska Air Group Inc. (NYSE:ALK) announced Q4 revenue of $3.53 billion for 2024, a 38% rise over last year’s comparable quarter. Q4 GAAP net income totaled $71 million and brought net income for the year to $395 million. Q4 adjusted net income totaled $125 million and for the year to $625 million. Q4 adjusted EPS of $0.97 exceeded analysts’ predictions of $0.44.

Revenue growth resulted from holiday and business travel demand, improved pricing power, and more solid leisure travel demand. The acquisition of Hawaiian Airlines in September of 2024 supported that revenue growth.

Analysts are bullish on Alaska Air Group’s (NYSE:ALK) future as 13 analysts have a consensus target price of $88.00, representing a potential upside of approximately 45% from a last price of $60.64.