Bank of America has published a report on SkyWest SKYW reducing the price target to $10 from $12.
In the report, Bank of America wrote, "SKYW pre-announced 2Q results well below our and Street estimates, singling out several items (higher crew costs, merger-related items, and investment
losses) that will carry over into the second half. We are lowering our 2QE to $0.02 from $0.24, our 2011E to $0.20 from $0.73, and our 2012E to $0.80 from $1.19. Given our lowered estimates, we are reducing our price objective to $10 from $12."
Bank of America rated SkyWest an Underperform with a target price of $10.00. SkyWest closed Friday at $14.71.
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