SkyWest price target raised to $130 from $120 at Raymond James

Raymond James raised the firm’s price target on SkyWest (SKYW) to $130 from $120 and keeps an Outperform rating on the shares. SkyWest reported a beat and raise, reflecting a healthy Prorate segment, easing pilot supply constraints, and continued improvement in utilization, the analyst tells investors in a research note. As the captain shortage continues to ease, SkyWest should be able to increase block hours by 30% with limited additional investment, driving significant earnings recovery, the firm says.