Sky Harbour initiated with a Buy at BTIG

BTIG initiated coverage of Sky Harbour (SKYH) with a Buy rating and $13 price target The firm says the company has “rapidly grown” into a leading developer and operator of premium aviation campuses. Sky Harbour’s access to low-cost fixed-rate debt and its “enhanced” internal construction team will ramp development spending and generate above-average returns as mid-teen yielding hangar campuses commence operation, the analyst tells investors in a research note.