MESA - Mesa Air rallies after Bank of America flips from bear to bull

Bank of America upgrades Mesa Air Group (MESA) to a Buy rating straight from Underperform in a two-notch lift."MESA is a large beneficiary of US government support to the airline industry, as it was used to refinance high cost debt. With long term contracts at UA L and AAL, we believe MESA is now well positioned to help its partners capitalize on a return to domestic travel, particularly as the network airlines should focus more on hub traffic. In addition, MESA s investment in Archer Aviation, while small, gives the airline exposure to the electric plane market."Shares of Mesa are up 5.66% premarket to trade at their highest level of 2021.

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Mesa Air rallies after Bank of America flips from bear to bull