Goldman Sachs Raises EPS Estimates on Republic Airways Holdings (RJET)

Goldman Sachs is out with its report today on Republic Airways Holdings RJET, raising EPS estimates on RJET. In a report sent to clients, Goldman Sachs states, "Republic Airways reported strong December quarter results, with revenue/non-GAAP EPS of $649.8 mn/$0.18 coming in ahead of the Street's $641.6 mn/ $0.06 and our $632.4 mn/$0.00. The company targeted 1Q and 2011 EPS in the range of -$0.35 to -$0.30 and $0.85 to $0.95, respectively. Our prior estimates were at -$0.15 and $0.79 versus Consensus at -$0.14 and $0.85, respectively. Although rising fuel expense continues to pressure profitability, we are raising our EPS estimates for CY11/CY12/CY13 to $0.90/$1.30/$1.41 from $0.79/$1.27/$1.38 on higher volume and better pricing." Goldman Sachs maintains Buy and a $9 PT on RJET. Shares of RJET closed Wednesday at $6.12.