In a report released today, Brian McKenna from JMP Securities reiterated a Buy rating on FTAI Aviation (FTAI – Research Report), with a price target of $46.00.
Brian McKenna has given his Buy rating due to a strategic acquisition and the potential for growth within the aviation sector. FTAI Aviation’s move to acquire the remaining 50% stake in QuickTurn, resulting in full ownership, is a key factor in this evaluation. Full control over QuickTurn is expected to offer FTAI greater operational flexibility, especially with The Module Factory’s increasing momentum. This acquisition is aligned with the company’s growth strategy and is anticipated to enhance its module swaps and light engine repairs services, which are in demand in the rapidly expanding aftermarket industry.
Furthermore, McKenna believes that FTAI Aviation is exceptionally well-positioned in the market, with significant potential for increased revenue and earnings over time. The scaling of the Aerospace Products segment is likely to contribute substantially to this growth. Given these factors and the company’s strong positioning, JMP Securities maintains a Market Outperform rating for FTAI, with a $46 price target that is predicated on an approximately 11x EV/EBITDA multiple based on their 2024 earnings estimate.
McKenna covers the Financial sector, focusing on stocks such as TPG, Carlyle Group, and Blue Owl Capital. According to TipRanks, McKenna has an average return of 20.0% and an 84.00% success rate on recommended stocks.
In another report released on November 24, BTIG also maintained a Buy rating on the stock with a $42.00 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 price target raised to $50 from $40 at Citi
- FTAI Aviation price target raised to $45 from $39 at Deutsche Bank
- 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
