Sky Harbour initiated with an Outperform at Northland

Northland initiated coverage of Sky Harbour with an Outperform rating and $16 price target. Sky Harbour – which is building the first nationwide network of home-basing hangars for business aircraft – offers “a unique real estate infrastructure opportunity,” the analyst tells investors. The firm likes Sky Harbour’s scalable business model, market opportunity, “attractive supply / demand imbalance” of private jet storage, and its early momentum with leasing agreements, the analyst noted.