BTIG analyst Gregory Lewis has reiterated their bullish stance on FTAI stock, giving a Buy rating today.
Gregory Lewis has provided a Buy rating for FTAI Aviation due to a variety of influential factors. The company has demonstrated a robust performance, especially in the Aerospace Products, which has seen its strongest quarter yet. The EBITDA has grown by approximately 35% sequentially to around $41 million, exceeding consensus estimates by around 8%. The impressive performance of Aerospace Products has heightened management’s expectation that EBITDA will reach the high end of the guidance for FY23. This is largely credited to FTAI’s expansion of its aftermarket service business, which included the addition of two new module customers during the quarter.
Moreover, FTAI Aviation has started receiving inquiries from repeat customers for module swaps in 2024, indicating sustained interest and trust in the company’s offerings. On top of this, the Aviation Leasing’s base business saw a revenue increase of roughly 10% sequentially to approximately $100 million, due to lease terminations leading to a rise in maintenance revenue. The global rebound of air travel, fueled by strong passenger demand from APAC and China, is expected to further bolster the company’s performance. FTAI is also making strides to scale Aerospace Products while simultaneously growing its base leasing business, thus warranting the reiterated Buy rating and $42 price target.
Lewis covers the Energy sector, focusing on stocks such as TechnipFMC, Helix Energy, and Plug Power. According to TipRanks, Lewis has an average return of -4.2% and a 43.82% success rate on recommended stocks.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $46.00 price target.
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FTAI Aviation (FTAI) Company Description:
Fortress Transportation & Infrastructure Investors LLC engages in acquiring, managing and disposing of transportation and transportation-related infrastructure and equipment assets. It operates through the following segments: Aviation Leasing, Offshore Energy, Shipping Containers, Jefferson Terminal, Railroad, Ports and Terminals, and Corporate. The Aviation Leasing segment consists of aircraft and aircraft engines held for lease and are typically held long-term. The Offshore Energy segment comprises of vessels and equipment that support offshore oil and gas activities and are typically subject to long-term operating leases. The Shipping Containers segment includes an investment in an unconsolidated entity engaged in the leasing of shipping containers on both an operating lease and finance lease basis. The Jefferson Terminal segment consists of a multi-modal crude and refined products terminal. The Railroad segment refers to Central Maine and Quebec Railway short line railroad operations. The Ports and Terminals consists of Repauno, a 1,630 acre deep-water port located along the Delaware River with an underground storage cavern and multiple industrial development opportunities, and Long Ridge, acquired in June 2017, a 1,660 acre multi-modal port located along the Ohio River with rail, dock, and multiple industrial development opportunities. The Corporate segment includes unallocated corporate general and administrative expenses and management fees. The company was founded on February 19, 2014 and is headquartered in New York, NY.
Read More on FTAI:
- FTAI Aviation Ltd. Reports Third Quarter 2023 Results, Declares Dividend of $0.30 per Ordinary Share
- FTAI Aviation reports Q3 EPS 33c, consensus 42c
- TipRanks ‘Perfect 10’ List: These Top-Rated Stocks Are Among 2023’s Big Winners — And They Have More Room to Shine
- FTAI Aviation price target raised to $40 from $28.18 at Citi
- FTAI Aviation Ltd. Announces Timing of Third Quarter Earnings and Conference Call
