Analyst Michael Diana of Maxim Group reiterated a Buy rating on Sky Harbour Group (SKYH – Research Report), retaining the price target of $25.00.
Michael Diana’s rating is based on Sky Harbour Group’s strong operational performance and strategic growth plans. The company recently reported fourth-quarter results that exceeded expectations, with revenue surpassing analyst consensus and a narrower-than-expected EBITDA loss. This performance was achieved with only four operational airports, and the company plans to expand its network to eight airports by the end of 2025, with further growth anticipated in subsequent years.
Additionally, Sky Harbour’s focus on Tier 1 markets allows it to charge premium rates, enhancing profitability. The company has also secured exclusive negotiation rights for new projects, increasing the likelihood of successful expansions. The demand for private jet hangar space remains high, and Sky Harbour’s innovative hangar design accommodates modern jets and supports semi-private occupancy, further boosting rental income. These factors, combined with the company’s undervaluation compared to industry peers, support the Buy rating and a price target of $25.
SKYH’s price has also changed moderately for the past six months – from $11.040 to $13.010, which is a 17.84% increase.