Analysts initiate coverage on Hawaiian Air
Hawaiian Airlines has reappeared on Wall Street's radar.
The local carrier was picked up in new coverage yesterday by national institutional research firm Caris & Co. San Francisco-based analyst Jason Kremer, who also covers Honolulu-based Alexander & Baldwin Inc., started off coverage on airline parent Hawaiian Holdings Inc. with a "buy" rating.
Nick Capuano of Beverly Hills, Calif.-based Imperial Capital LLC, which conducted financing and investment consultation during Hawaiian's bankruptcy, also has Hawaiian Holdings rated a "buy." Capuano has a target price of $6.
Analyst Stefan Lumiere of Oscar Gruss & Son Inc. has indicated he is watching the company but has not yet rated it.
Hawaiian, which has been increasing its exposure since emerging from bankruptcy a year ago, held its first-ever conference call earlier this month after its quarterly earnings report.
Separately, a key hearing in Hawaiian's legal battle involving Mesa Air Group Inc.'s plans to start a competing interisland carrier has been postponed from 10 a.m. to 2:30 p.m. on Friday to accommodate a Mesa attorney who will argue the case.