AAR Corp. price target lowered to $80 from $83 at KeyBanc

KeyBanc lowered the firm’s price target on AAR Corp. (AIR) to $80 from $83 and keeps an Overweight rating on the shares following quarterly results. The firm cites near- to midterm headwinds in the USM market, partially offset by stronger margins. KeyBanc’s thesis remains intact as it believes AAR is well-positioned to capitalize on the strong A&D aftermarket backdrop amid both organic and inorganic growth avenues. Further, KeyBanc thinks the recent selloff presents opportunity and strong value for long-term investors.