Noble Capital analyst Michael Kupinski initiated coverage of Sky Harbour (SKYH) with an Outperform rating and $23 price target The specialized aviation infrastructure developer leases airport land at favorable long-term rates that are often under $1 per square foot annually, notes the analyst, who believes Sky Harbour is positioned to deliver “robust” rental revenue growth and long-term free cash flow generation given its low land costs, tax-exempt financing, and strong tenant demand.
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