CRT Capital Initiates Coverage on Hawaiian Holdings

CRT Capital analyst Michael Derchin initiated coverage on Hawaiian Holdings

Tuesday with a Buy rating and price target of $13.50. Derchin notes, "HA is well-positioned to capture a disproportionate share of the fast growing, profitable Asia/Pacific market, in our view. It has one of the youngest fleets in the industry. Its new, state of the art, Airbus A350 composite aircraft on order will permit HA to fly nonstop to every key city in the world. HA is recognized for its superior customer service." CRT Capital believes that HA has many upsides including the potential to earn more than the 2014 consensus of $1.44 and the stock is trading below the expected TEC/EBITDAR range of 4.5x - 6.5x. HA is currently trading aroundthe $11.60 mark, up 2.5% from it's previous close of $11.33.