Cowen Cuts SkyWest Price Target By 16%

December 15, 2021 10:51 AM | 1 min read | Make a Comment

Cowen analyst Helane Becker downgraded SkyWest, Inc. SKYW to Market Perform from Outperform and lowered its price target to $42 (an upside of 13.7%) from $50.
Becker mentions that the read-through from the recent Mesa Airlines earnings release regarding higher maintenance costs, longer maintenance times, and employee attrition "are concerning."
The analyst thinks SkyWest is likely suffering from similar issues and that wage rates for certain labor groups are heading higher.
Price Action: SKYW shares are trading lower by 6.46% at $36.94 on the last check Wednesday.