Deutsche Bank Downgrades Hawaiian Holdings (HA) to Hold

January 30, 2013 7:18 AM EST
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Price: $55.65 -1.77%

Rating Summary:
    7 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 33 | New: 34
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Deutsche Bank downgraded Hawaiian Holdings (NASDAQ: HA) from Buy to Hold with a price target of $7.00 (from $10.00) following Q4 results.

The firm comments, "We are lowering our 2013 EPS estimate from $1.55 to $0.90 (vs. consensus of $1.34) as we think Hawaiian's margins are likely to remain under pressure for at least 1H 2013 due to: yen weakness; excess supply in several key markets; and the launch of several new markets. While we think Hawaiian will continue to remain profitable for 2013, our new 12 month price target of $7 derived from our reduced EPS forecast implies only 7% upside for HA shares from last close of $6.54. As such, we believe the shares no longer warrant a Buy rating, hence the change to Hold."

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 $6.54 yesterday.

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