Investors Cheer Raymond James Upgrade on SkyWest (SKYW); Shares Up 15%

July 11, 2012 12:23 PM EDT
Get Alerts SKYW Hot Sheet
Price: $36.25 -2.03%

Rating Summary:
    6 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Traders are bidding up shares of SkyWest (Nasdaq: SKYW) by more than 15 percent Wednesday afternoon following an earlier upgrade from Raymond James. The firm now rates the stock an Outperform, up from Market Perform previously.

Raymond James based its upgrade on strong positioning to benefit from opportunities with carriers like American, US Airways (NYSE: LCC) and Delta (NYSE: DAL). The firm sees SkyWest returning to a profit next quarter, helped as integration costs related to ExpressJet taper off.

The stock last traded at $7.93.

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