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UPDATE: Bank of America Merrill Lynch Reiterates Buy Rating, Lowers PT on Hawaiian Holdings

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In a report published Wednesday, Bank of America Merrill Lynch reiterated its Buy rating on Hawaiian Holdings (NASDAQ: HA), but slightly lowered its price target from $11.25 to $11.00.

BofA Merrill Lynch noted, “The demise of Aloha has improved pricing and resulted in HA dominating interisland traffic, becoming the largest carrier between Hawaii and the West Coast. As a leisure airline, HA benefits less from higher margin. Transpacific supply has moderated in recent quarters, though LUV/ALGT may enter the Hawaii market in 2012. Cost pressures, which affected margins in recent quarters, moderate in the second half, and HA's earnings momentum should improve relative to the group.”

Hawaiian Holdings closed on Tuesday at $5.72.

Latest Ratings for HA

DateFirmActionFromTo
Sep 2016Imperial CapitalInitiates Coverage onOutperform
Jul 2016Argus ResearchUpgradesHoldBuy
Jun 2016Deutsche BankUpgradesHoldBuy

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Posted-In: Bank of America Merrill LynchAnalyst Color Price Target Analyst Ratings

 

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