Sky Harbour Group’s Strategic Expansion and Strong Leasing Potential Justify Buy Rating

Maxim Group analyst Michael Diana reiterated a Buy rating on Sky Harbour Group (SKYH – Research Report) yesterday and set a price target of $25.00.

Michael Diana has given his Buy rating due to a combination of factors including Sky Harbour Group’s strategic expansion and strong leasing potential. The company has reaffirmed its guidance to expand its network to 23 airports by the end of 2025, with construction on 10 campuses currently on schedule. This expansion is expected to significantly boost their operational capacity and revenue potential.
Moreover, the company is focusing on leasing as a near-term priority, and management anticipates that rental rates will surpass initial forecasts by a substantial margin. This optimism is driven by the high demand for private jet hangar space and the unique advantages of Sky Harbour’s prototype hangars, which cater to newer jets and offer semi-private occupancy. Additionally, Sky Harbour’s home-basing model has established a strong brand presence with no direct competition, further supporting the Buy rating.

In another report released on May 15, Noble Financial also maintained a Buy rating on the stock with a $23.00 price target.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SKYH in relation to earlier this year.