Deutsche Bank Lowering Shares On Pinnacle Airlines To Hold From Buy

In a report published by Deutsche Bank, it is lowering shares on Pinnacle Airlines PNCL to Hold from Buy.

Deutsche Bank reported that the move comes due to a halving of its 2011 diluted EPS estimate from $1.60 to $0.80 (vs. consensus of $1.20). “Our revised forecast reflects the fact that 2011 will be a year of transition for the company as it adds new aircraft/personnel, merges its Colgan and Mesaba units, and incurs higher wage expense from its recently approved pilot contract. As such, we think the shares will be range-bound for the time being, and therefore, believe that they warrant a Hold rating.”

Pinnacle Airlines closed on Friday at $6.00.