UPDATE: Stifel Starts Air Transport Services Group (ATSG) at Hold

(Updated - August 26, 2016 9:08 AM EDT)

Stifel initiated coverage on Air Transport Services Group (NASDAQ: ATSG) with a Hold rating. Analyst David G. Ross views shares as fairly valued.

Ross said, "We are initiating coverage of ATSG with a Hold rating on the shares due to valuation, in spite of secular growth tailwinds (related to e-commerce), as the stock has already had a good run year-to-date. Having known ATSG for some time (management has presented at our annual Stifel Transportation & Logistics Conference), we are pleased to launch coverage of the stock and like the longer-term story. ATSG is a growing provider of medium-body freighter aircraft (and airline operations) with a concentration on service providers in the express parcel/B2C space. The company made headlines earlier this year (after speculation began circulating in 4Q15) by starting up a cargo operation for Amazon out of its Wilmington, OH hub (the old Airborne hub) and then inking a five-year contract in 1Q16 with the e-commerce giant (after a successful peak season trial period) for 20 leased and operated 767s."

For an analyst ratings summary and ratings history on Air Transport Services Group click here. For more ratings news on Air Transport Services Group click here.

Shares of Air Transport Services Group closed at $14.82 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Boston Scientific (BSX) PT Raised to $83 at Stifel
• Ameriprise Financial (AMP) PT Raised to $445 at Morgan Stanley
• Boeing (BA) PT Lowered to $240 at Stifel