Sky Harbour initiated with a Buy at Lake Street

Lake Street initiated coverage of Sky Harbour (SKYH) with a Buy rating and $14 price target Sky Harbour’s model is built to scale efficiently as the company expands its network of hangar campuses, says the firm, which thinks Sky Harbour should benefit from accelerating demand for private jet storage in the U.S. This trend is expected to continue as forecasts project up to 8,500 new business jet deliveries between 2025 and 2034, but hangar development has not kept pace, especially for larger jets, which creates a “high-demand, low-supply environment ripe for disruption,” the analyst tells investors.