SkyWest price target lowered to $125 from $130 at Raymond James

Raymond James analyst Savanthi Syth lowered the firm’s price target on SkyWest (SKYW) to $125 from $130 and keeps an Outperform rating on the shares. SkyWest has a strong balance sheet and significant unpledged assets, along with improving earnings momentum and an attractive valuation, the analyst tells investors in a research note. The firm believes that the weaker Q1 stock performance in part reflects fears on the earnings impact if partners pull down flying on the back of weaker demand alongside unexpected market weakness.