Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Raymond James Cuts ExpressJet to 'Outperform'

Raymond James downgraded ExpressJet Holdings (XJT) to outperform from strong buy.

ExpressJet, one of the world's largest reginonal airlines, amended a capacity purchase deal with Continental and a purchase deal with Embraer-Empresa Brasil, to slow the pace of regional jet deliveries.

Analyst James Parker says ExpressJet will defer some regional jet deliveries. He cut the $1.53 2003 earnings per share estimate to $1.49, and cut the $1.76 2004 estimate to $1.58 due to lower block hours and increased costs per block hour. He thinks the deferral is a result of Continental electing to delay regional jet deliveries rather than parking its own mainline aircraft or decreasing utilization of mainline fleet. He notes Continental is permitted to do this in its contract with ExpressJet; Continental owns 54% of ExpressJet.

Parker says the move gives appearance to Continental deferring ExpressJet's growth to keep its mainline aircraft more fully utilized. He cut the target to $16.

blog comments powered by Disqus