tiprankstipranks
Trending News
More News >

Air Lease upgraded to Buy from Neutral at Citi

Citi upgraded Air Lease (AL) to Buy from Neutral with a price target of $68, up from $45. The firm says that after pivoting away from a long-held strategy of growing organically via direct purchases from aerospace manufacturers, Air Lease “now seems to be pursuing an AerCap-style capital allocation strategy.” Air Lease management recently mentioned that it could pursue share buybacks and acquisitions now that its debt/equity has reached a target 2.5 times, the analyst tells investors in a research note. Citi believes the stock could further recoup some of its long-term underperformance versus peers.

Don’t Miss TipRanks’ Half-Year Sale

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1