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Fly News Breaks for August 12, 2019
MESA
Aug 12, 2019 | 09:27 EDT
B. Riley FBR analyst Scott Buck recommends using the post-earnings selloff Friday in shares of Mesa Air Group as a buying opportunity. Results in the quarter were negatively impacted by operating challenges, which forced the removal of three aircraft for almost the entirety of the quarter, reducing block hours flown and increasing costs, Buck tells investors in a research note. The analyst, however, suggests investors take advantage of the pullback to accumulate the shares. Mesa remains well positioned to add additional flying over the coming year, says Buck, who keeps a Buy rating on the shares despite lowering his price target to $13 from $16.
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