Dahlman Rose Upgrades Republic Airways (RJET) to Buy; Back to its Roots

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November 9, 2011 7:39 AM EST
Get Alerts RJET Hot Sheet
Price: $20.33 -1.21%

Rating Summary:
    1 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Dahlman Rose upgraded Republic Airways (NASDAQ: RJET) from Hold to Buy with a price target of $8.00.

Dahlman analyst says, "We are raising our rating on the common shares of Republic Airways as the company gets set to spin off or sell its Frontier Airlines subsidiary. We believe the fixed fee business earns ~$1.00/share/year; using a conservative multiple of 8x multiple would be a price target of $8.00. Moreover, the sale or spinoff of Frontier will also reduce the surviving company's debt ratios.

For an analyst ratings summary and ratings history on Republic Airways click here. For more ratings news on Republic Airways click here.

Shares of Republic Airways closed at $4.34 yesterday.

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