Imperial Capital Raises Price Target on Hawaiian Holdings (HA) Following 3Q Report

October 19, 2016 11:26 AM EDT
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Price: $53.90 -3.32%

Rating Summary:
    7 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Imperial Capital reiterated an Outperform rating on Hawaiian Holdings (NASDAQ: HA), and raised the price target to $62.00 (from $58.00), following the company's 3Q earnings report. HA reported better-than-expected EPS of $1.92 versus estimates of $1.84. Imperial raised 4Q EPS estimates to $1.22 from $1.15.

Analyst Michael Derchin commented, "We are maintaining our Outperform rating and raising our estimates and one-year price target on HA shares to $62 from $58 on higher unit revenues, which are expected to accelerate in FY17. We now estimate FY17 RASM will increase by 2.0% versus 1.0% previously. Our price target is about 26% above the recent share price. We are raising our 4Q16 EPS estimate to $1.22 from $1.15, our FY17 EPS estimate to $4.75 from $4.50, and our FY18 estimate to $5.25 from $5.00."

For an analyst ratings summary and ratings history on Hawaiian Holdings click here. For more ratings news on Hawaiian Holdings click here.

Shares of Hawaiian Holdings closed at $49.10 yesterday.

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