Benzinga | Dec 15, 2021 10:51AM EST

Cowen Cuts SkyWest Price Target By 16%

* Cowen analyst Helane Becker downgraded SkyWest, Inc. (NASDAQ:SKYW) to Market Perform from Outperform and lowered its price target to $42 (an upside of 13.7%) from $50.

* Becker mentions that the read-through from the recent Mesa Airlines earnings release regarding higher maintenance costs, longer maintenance times, and employee attrition "are concerning."

* The analyst thinks SkyWest is likely suffering from similar issues and that wage rates for certain labor groups are heading higher.

* Price Action: SKYW shares are trading lower by 6.46% at $36.94 on the last check Wednesday.