Markets & Finance

Goldman Adds Skywest to 'Recommended List'

Goldman Sachs added Skywest (SKYW) to its recommended list, was rated market outperform.

Analyst Glenn Engel says although Skywest's stock price has bounced back from mid-Sepember lows, shares are still down nearly 50% from their highs. He notes, in contrast to the sector, that he expects Skywest's fee-for-departure contracts, well-capitalized partners (Delta and United) to permit Skywest to remain profitable. He says the need for its low cost regional jets has increased as its larger partners seek to lower breakeven costs.

Engel raised his $1.05 fiscal 2002 (March) EPS estimate to $1.40 and sees $0.87 calendar 2001 EPS, with $1.40 in calendar 2002 and $1.85 in calendar 2003.

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