Deutsche Bank Downgrades Hawaiian Holdings (HA) to Hold

Deutsche Bank downgraded Hawaiian Holdings (NASDAQ: HA) from Buy to Hold with a price target of $35.00 (from $39.00).

Analyst Michael Linenberg said, "Hawaiian Airlines (HA) share price has been a very strong performer this past year appreciating 36% versus the 1% drop in the S&P 500 (and among the top 3 among US airline stocks). The reasons for the outperformance included strong profit growth, CAPEX restraint, strong free cash flow, balance sheet clean-up, and share repurchases. We believe the latter two reasons played a big role in driving up the share price 43% during the December quarter. Presently, the stock is trading around 10x our 2016 EPS estimate, which is not expensive, but it is not cheap either compared to other US airline stocks, particularly the majors."

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 $32.81 yesterday.

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