Imperial Capital Upgrades Hawaiian Holdings (HA) to Outperform

Imperial Capital upgraded Hawaiian Holdings (NASDAQ: HA) from In-Line to Outperform with a price target of $27.00 (from $24.00).

Analyst Bob McAdoo commented, "Hawaiian published an investor update prior to the market open on 3/24/15, which suggests Hawaiian has been successful in absorbing recent competitor capacity increases during the seasonally slower first quarter. Looking forward to seasonally stronger periods, competitive capacity growth appears manageable, with most new capacity coming in markets currently not served by Hawaiian. In addition to better revenue trends, the company should continue to benefit from lower fuel prices in 2015. The combination of fuel cost savings and meaningfully lower capex in 2015 and 2016 suggests capital return to shareholders is possible, albeit with further deleveraging rather than more direct methods. With shares of HA down 21% from their 52 week high of $27.66, we believe investors should accumulate shares ahead of the seasonally stronger summer period. Our $27 price target, while consistent with trading in recent weeks, is 23% above last session’s trading levels."

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 $21.95 yesterday.

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