SkyWest upgraded to Outperform from Market Perform at Raymond James

Raymond James upgraded SkyWest to Outperform from Market Perform with a $55 price target. The analyst has increased conviction on the likely continued improvement in pilot trends as U.S. mainline and cargo airlines moderate growth into 2024. This in turn increases the firm’s conviction in SkyWest’s earnings recovery. While SkyWest is one of the best performing airlines stocks year-to-date, this reflects a “meaningfully improved fundamental position” relative to the beginning of the year with the successful pass through to partners of materially higher pilot costs and the stabilization of captain supply trends, the analyst tells investors in a research note.the analyst tells investors in a research note.