Market Overview

UPDATE: Bank of America Downgrades Hawaiian Holdings to Underperform on Pricing Pressures

Share:
Related HA
Airlines Could Fall 30% In A Recession
Mid-Afternoon Market Update: Dow Down 100 Points; CommVault Shares Surge On Earnings Beat
Ladies Love Low Risk (Seeking Alpha)

Bank of America downgraded Hawaiian Holdings, Inc. (NASDAQ: HA) from Buy to Underperform and lowered the price target from $11.00 to $7.00.

Bank of America noted, "HA's unit revenue declines accelerated as 2012 progressed, and we now assume yoy declines do not cross over to marginal gains until 4Q13. … While business travel bookings accelerated in the fourth quarter, leisure demand remained sluggish, and HA is predominantly a leisure airline. In addition, we see double digit capacity growth in Hawaiian's international and West Coast markets during the first quarter. Intra-island supply has stabilized and Hawaii-West Coast market supply moderates in the spring, absent any entry by LUV."

Hawaiian Holdings closed at $7.05 on Tuesday.

Latest Ratings for HA

DateFirmActionFromTo
Jan 2016Bank of AmericaUpgradesUnderperformNeutral
Jan 2016Deutsche BankUpgradesHoldBuy
Jan 2016WolfeUpgradesUnderperformPeer Perform

View More Analyst Ratings for HA
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (HA)

View Comments and Join the Discussion!

Get Benzinga's Newsletters