Deutsche Bank upgraded Hawaiian Holdings (HA) to Buy from Hold with a price target of $16, up from $4. Alaska Airlines (ALK) announced it will acquire Hawaiian Airlines in an all-cash transaction of $18 per share, which equates to a Hawaiian equity value of just under $1.0B, the analyst tells investors in a research note. The firm says the synergy estimate is conservative and implied transaction metric is attractive. It views the transaction positively and believes it will drive meaningful long-term value creation. However, airline mergers face high execution risk, says Deutsche Bank. The firm swapped ratings on Alaska Air and Hawaiian Airlines.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on HA:
- M & A News: Alaska Air (NYSE:ALK) to Strengthen its Offerings with HA Deal
- Alaska Airlines and Hawaiian Airlines to Combine, Expanding Benefits and Choice for Travelers Throughout Hawai’i and the West Coast
- Hawaiian Holdings price target lowered to $5 from $9 at TD Cowen
- Hawaiian Holdings price target lowered to $4 from $5 at Susquehanna
- Hawaiian Holdings cuts FY23 ASMs view to up 7.5%-8.5%