Dahlman Rose Reiterates Hold on Hawaiian Holdings
Dahlman Rose maintains its Hold rating on Hawaiian Holdings (NASDAQ: HA) as the company delivered better-than-expected EPS, excluding one-time items.
Dahlman Rose says, "Hawaiian Holdings made great strides in 2011 growing into the Pacific region, adding service to Seoul, South Korea plus Tokyo (Haneda) and Osaka, Japan to the network, resulting in 2011 capacity growth of 18.6%. Growth in 2012 will be similar to 2011, as Hawaiian increases service to Seoul and Sydney to daily, as well as adding service to Fukuoka, Japan, and New York. As a result of the Pacific network build-out and the addition of New York City, 2012 capacity growth is estimated to be in the range of 20% to 22%."
HA closed at $9.96 a share on Tuesday.
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