SkyWest upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Catherine O’Brien upgraded SkyWest (SKYW) to Buy from Neutral with a price target of $117, down from $119. With an increasingly uncertain demand backdrop, SkyWest is one of the most defensive names in airlines given the company’s largely contractual revenue structure, strong balance sheet, and solid free cash flow profile, the analyst tells investors in a research note. The firm says that despite these factors, the shares are down 34% since February 1.