UPDATE: Dahlman Rose & Co Upgrades Rating to Buy on Republic Airways Holdings

A report from Dahlman Rose & Co reiterates its $8 price target and upgrades its rating from Hold to Buy on Republic Airways Holdings

. The report states, “Republic reported 3Q11 EPS ahead of our and the consensus estimate, reporting a pre-tax profit, in spite of a 45.7% increase in the average cost of jet fuel per gallon. Republic is also working on removing Frontier from its portfolio through an asset sale." RJET closed yesterday at $4.34.