SkyWest "neutral weight," target price raised - update

04/05/05 - Prudential Financial

NEW YORK, April 5 (newratings.com) - Analyst Bob McAdoo of Prudential Financial maintains his "neutral weight" rating on SkyWest Inc (SKYW). The target price has been raised from $20 to $22.

In a research note published yesterday, the analyst mentions that the company has ordered 20 CRJ-700 aircrafts for its flying contract with United. The United contract is expected to be accretive to SkyWest's 2006 revenues and EPS by approximately 10%, the analyst says. Prudential Financial believes that the company's share price would appreciate in the near term, despite a moderate increase in oil prices.