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Fly News Breaks for June 14, 2017
UAL, HA
Jun 14, 2017 | 06:36 EDT
Stifel analyst Joseph DeNardi downgraded Hawaiian Holdings (HA) to Sell and cut his price target for the shares to $40 from $60 after United Continental (UAL) said it expects its capacity into Hawaii to increase by 20% in 2018. The impact of higher industry capacity on Hawaiian Holdings' 2018 PRASM trends "seems greatly underappreciated" in current consensus estimates, DeNardi tells investors in a research note. The analyst says competitive capacity is "finally coming."