In a report released today, Thomas Fitzgerald CFA from TD Cowen maintained a Buy rating on SkyWest (SKYW – Research Report), with a price target of $114.00.
Thomas Fitzgerald CFA has given his Buy rating due to a combination of factors that highlight SkyWest’s strong financial performance and strategic growth opportunities. The company reported its ninth consecutive earnings per share beat, with significant revenue growth driven by both contract and prorate segments. This performance is bolstered by effective cost management, as evidenced by margins benefiting from improved utilization and operating leverage.
SkyWest’s management is optimistic about the future, citing strong demand for its services despite broader economic challenges faced by mainline carriers. The company is actively pursuing growth by restoring services in underserved markets, enhancing utilization, and integrating new aircraft into its fleet. Additionally, SkyWest’s strategic capital allocation, including strengthening its balance sheet and investing in growth, further supports the positive outlook. These factors collectively underpin Fitzgerald’s decision to maintain a Buy rating and raise the price target to $114.
According to TipRanks, Fitzgerald CFA is an analyst with an average return of -7.6% and a 34.00% success rate. Fitzgerald CFA covers the Industrials sector, focusing on stocks such as Southwest Airlines, American Airlines, and Delta Air Lines.
In another report released today, Raymond James also reiterated a Buy rating on the stock with a $125.00 price target.