Miserable news this week for investors in Spirit Airlines (NYSE: SAVE) stock: On Monday, Spirit reported losing $1.46 per share in Q1, adjusted for one-time items -- only a penny worse than Wall Street analysts had predicted it would lose, but still a big loss. No sooner had this news been revealed than TD Cowen analyst Helane Becker cut her price target on Spirit stock from $4 a share to just $3.

Becker maintained a "hold" rating on the stock, but seeing as her price target implies Spirit stock will lose another 10% over the next 12 months, perhaps investors would be better off just selling the stock?

Describing the price target cut, Becker explained that Spirit's Q1 loss was already expected. What was not expected was that management would forecast weak revenue of only about $1.3 billion in Q2 as well -- almost as bad as Q1.

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Source Fool.com