UPDATE: Imperial Capital Initiates Republic Airways Holdings at Outperform

Imperial Capital initiated coverage on Republic Airways Holdings

with an Outperform rating and a $9 price target. Imperial Capital noted, "We believe RJET will benefit from Delta's (DAL) and United's (UAL) recently announced increased 70+ seat flying and American's (AMR) move, through bankruptcy, to greatly increase its use of 70+ seat jets. The number of new aircraft likely to be added to the Delta, United, and AMR operation is so great that we doubt any one operator will be chosen to provide all the services nor will any one manufacturer likely be the sole vendor for all of the aircraft. With longstanding relations at United, AMR and Delta, we believe RJET is well-positioned to add new contract flying." Republic Airways Holdings closed at $4.98 on Tuesday.