AAR Corporation (AIR) PT Raised to $48 at Canaccord Genuity Ahead of Earnings

March 22, 2021 9:28 AM EDT
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Price: $36.44 +0.16%

Rating Summary:
    7 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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Canaccord Genuity analyst Ken Herbert raised the price target on AAR Corporation (NYSE: AIR) to $48.00 (from $40.00) ahead of 3Q21 results on March 23rd.

The analyst reiterated the Buy rating, stating "With optimism improving on the commercial aerospace recovery, AIR has largely returned to pre-crisis levels, with the stock up ~17% in 2021 (compared to up ~12% for its commercial aerospace peers). We believe top-line expectations into the fiscal Q3/21 results are manageable, and we believe the stock will continue to benefit as confidence in the aerospace recovery gains momentum. However, the focus will increasingly shift to margins and cash generation, which have lagged into the pandemic. We are maintaining our BUY rating and increasing our price target to $48.

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