SkyWest price target lowered to $19 from $25 at Deutsche Bank

Deutsche Bank analyst Mike Linenberg lowered the firm’s price target on SkyWest to $19 from $25 and keeps a Hold rating on the shares. The analyst cut the price target to reflect macro uncertainty in 2023. Every airline is facing significant cost pressures as they confront the highest inflation in 40 years as airport costs, aircraft ownership costs, contracted services, insurance, and higher energy costs, Linenberg tells investors in a research note. He says his favorite Buy-rated names for 2023 are airlines that were able to successfully navigate through a "very turbulent" 2022 and are now well positioned to build on last year’s financial outperformance and grow earnings in 2023.