AerCap: Solid Execution and Capital Returns Offset by Limited Upside, Justifying a Hold Rating

Analyst Kristine Liwag of Morgan Stanley maintained a Hold rating on Aercap Holdings, retaining the price target of $150.00.

Kristine Liwag has given his Hold rating due to a combination of factors related to AerCap’s solid recent performance but more balanced forward outlook. The company delivered quarterly adjusted EPS meaningfully above both her estimate and the Street, helped by stronger lease-related revenues, higher-than-expected asset sale gains, and lower tax expense, and it also returned significant capital via share repurchases and a higher dividend.

At the same time, AerCap’s 2026 guidance for adjusted EPS and revenue (excluding gains on sale) broadly aligns with her projections and is only modestly above consensus, suggesting limited upside from current levels. With the stock already trading at a premium to book value and operating metrics largely in line with expectations, she views the risk/reward as fairly balanced, supporting a Hold rather than a more aggressive rating.

In another report released today, TipRanks – OpenAI also downgraded the stock to a Hold with a $153.00 price target.