Imperial Capital maintained an Outperform rating on Republic Airways (NASDAQ: RJET), and cut the price target to $10.00 (from $17.00), following 2Q earnings results. RJET reported adjusted EPS of $0.08, which was consistent with the pre-announcement on 7/24. Revenue in the quarter of $337.8mn was below 2Q14 revenue of $343.0mn.

Analyst Scott Buck commented, "We are maintaining our Outperform rating, but reducing our one-year price target on RJET shares to $10 from $17. In recent weeks, shares of RJET have experienced significant volatility as investors attempt to handicap possible outcomes of ongoing pilot negotiations. In late July, the company indicated that the stalemate has made it challenging to hire new pilots and even fly current schedules. As a result, the company has pulled its previously issued guidance for 2015. We believe RJET’s contract partners and Embraer are likely to be supportive while the company works towards an agreement with its pilots union. With a work stoppage unlikely, in our view, and a strong existing business, we recommend investors accumulate shares during this period of investor uncertainty. Our new $10 price target represents approximately 156% upside from recent trading levels."

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 $3.91 yesterday.