KeyBanc raised the firm’s price target on AAR Corp. (AIR) to $120 from $109 and keeps an Overweight rating on the shares. Post AAR Corp.’s Q3 earnings/the firm’s analysis, KeyBanc is raising its estimates to reflect strong execution, driving another quarter of margins ahead of its expectations. The firm’s thesis remains intact as KeyBanc believes AAR is well-positioned to capitalize on the strong A&D aftermarket backdrop amid both organic and inorganic growth avenues. The firm continues to see strong relative value for long-term investors.
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