Air Lease (AL – Research Report), the Industrials sector company, was revisited by a Wall Street analyst yesterday. Analyst Ronald Epstein from Bank of America Securities maintained a Buy rating on the stock and has a $70.00 price target.
Ronald Epstein has given his Buy rating due to a combination of factors that suggest Air Lease (AL) is well-positioned in the market. The company’s adjusted earnings per share (EPS) of $1.31 exceeded both Bank of America’s estimate of $1.12 and the Bloomberg consensus of $1.14, signaling stronger-than-anticipated revenue performance. With revenues reaching $663 million, compared to the expected $647 million, Air Lease demonstrates a robust financial standing. Moreover, the successful sale of five aircraft, which resulted in a $23 million gain, further underpins the company’s profitability and potential for growth.
Epstein’s optimism is further reinforced by Air Lease’s strategic positioning in light of the current supply and demand imbalance in the commercial aircraft market. This mismatch is expected to continue, which bodes well for the aircraft leasing and sales industry. Air Lease’s substantial investment in new aircraft, with 14 new deliveries representing $900 million, and a sizeable owned portfolio of 472 aircraft, align with the anticipated market strength. By maintaining a Buy rating with a price objective of $70.00, Epstein reflects confidence in Air Lease’s ability to capitalize on these market dynamics and generate shareholder value.
According to TipRanks, Epstein is a 5-star analyst with an average return of 8.9% and a 59.33% success rate. Epstein covers the Industrials sector, focusing on stocks such as Boeing, Hexcel, and CAE.
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Air Lease (AL) Company Description:
Air Lease Corp. engages in the provision of aircraft leasing business. It focuses on purchasing new commercial jet transport aircraft directly from aircraft manufacturers, and leasing those aircraft to airlines throughout the world with the intention to generate attractive returns on equity. The company was founded by Steven F. Udvar-Hazy in January 2010 and is headquartered in Los Angeles, CA.
