UPDATE: Stifel Starts Atlas Air Worldwide (AAWW) at Buy
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
(Updated - August 26, 2016 9:10 AM EDT)
Stifel initiated coverage on Atlas Air Worldwide (NASDAQ: AAWW) with a Buy rating and a price target of $49. Analsyt David G. Ross highlighted earnings growth and compelling valuation.
"We are initiating coverage of Atlas Air Worldwide Holdings, Inc. (AAWW) with a Buy rating and $49.00 target price, as we believe the company is trading at an attractive valuation relative to historical averages and current peer valuation ahead of what we believe should be a period of growing earnings followed by strong cash flow," said Ross.
"Having known Atlas Air for awhile (management has presented at the annual Stifel Transportation & Logistics Conference in Key Biscayne), we are glad to finally launch coverage. Also, having DHL as a major customer, and especially since announcing its significant contract with Amazon this spring to serve the U.S. small package delivery space, we believe there is more overlap than ever with our existing coverage (which includes DHL, FedEx, UPS, and the freight forwarders). There is little growth, if any, in U.S. domestic or global transportation right now, but Amazon and express parcel networks are seeing greater capacity needs ahead, so we believe Atlas is in a solid position to benefit from this e-commerce-driven volume growth over the next several years," added the analyst.
Shares of Atlas Air Worldwide closed at $35.21 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades AZZ Inc. (AZZ) to Sell
- UPDATE: Stifel Upgrades Green Plains Partners LP (GPP) to Buy
- Stifel Raises Price Target on Clean Harbors (CLH) to $60; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
Related EntitiesStifel, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!