SkyWest Keeps Taking The Right Steps Towards Simplification

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In a report published Friday, Imperial Capital analyst Bob McAdoo reiterated an In-Line rating on
SkyWestSKYW
, and raised the price target from $10.00 to $12.00. In the report, Imperial Capital noted, "We are maintaining our In-Line rating and increasing our one year price target to $12 from $10. The company, in concert with its partner contracting airlines, continues to take the right steps to simplify the business including winding down its small jet flying. We expect this process to coincide with contract expirations and thus expect 2015 to be a transitional year." The report continued, "As a result, losses at its ExpressJet subsidiary will likely continue to burden overall operating results. These company-specific issues are further exaggerated by current industry headwinds facing the contract carriers, including new FAA regulations. We believe shares of SKYW will likely trade consistent with the overall market until these issued are resolved." SkyWest closed on Thursday at $11.96.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsBob McAdooimperial capital
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