Lake Street Capital Markets Starts Sky Harbor Group (SKYH) at Buy

Lake Street Capital Markets analyst Ryan Meyers initiates coverage on Sky Harbor Group (NYSE: SKYH) with a Buy rating and a price target of $14.00.

The analyst comments "Demand Tailwinds – We think Sky Harbour should benefit from accelerating demand for private jet storage in the U.S., driven by a significant expansion in the executive aviation fleet and a structural imbalance between aircraft growth and available infrastructure. From 2010-2023, the physical footprint of the U.S. business jet fleet expanded by over 36M square feet, a 61% increase, while the footprint of large private jets grew even more rapidly, rising by 102%. This trend is expected to continue as forecasts project up to 8.5K new business jet deliveries between 2025 and 2034, with over two-thirds being large aircraft requiring more space. However, hangar development has not kept pace, especially for larger jets, leaving many airports with outdated or undersized facilities, chronic shortages, and multi-year waitlists. This creates a high- demand, low-supply environment ripe for disruption."

For an analyst ratings summary and ratings history on Sky Harbor Group click here. For more ratings news on Sky Harbor Group click here.

Shares of Sky Harbor Group closed at $9.80 yesterday.

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