UPDATE: Stifel Starts Atlas Air Worldwide (AAWW) at Buy

August 26, 2016 6:42 AM EDT
Get Alerts AAWW Hot Sheet
Price: $42.50 -0.23%

Rating Summary:
    5 Buy, 6 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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(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.

For an analyst ratings summary and ratings history on Atlas Air Worldwide click here. For more ratings news on Atlas Air Worldwide click here.

Shares of Atlas Air Worldwide closed at $35.21 yesterday.

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