Raymond James Downgrades This Regional Air Carrier

Raymond James analyst Savanthi Syth downgraded Mesa Air Group Inc (NASDAQ:MESA) to Market Perform from Outperform without a price target, reflecting regional airline industry headwinds.
Syth says the magnitude of the impact on earnings appears to be greater than anticipated.
Syth further mentions that much of this headwind should ease in early 2023, though pushing back the anticipated earnings recovery by at least a year.
Also Read: Mesa Airlines Reports ~4% Block Hours Growth In December.
Price Action: MESA shares are trading lower by 4.63% at $4.74 on the last check Friday.