Canaccord Genuity Maintains Buy Following Erickson (EAC) Meetings

Canaccord Genuity maintains a Buy rating and $6 price target on Erickson Air-Crane (NASDAQ: EAC) following meetings with management. Management is taking the right steps to improve confidence, says Ken Herbert.

Herbert commented on EAC, saying, "We recently spent a day on the road with Erickson (EAC) management. The meetings highlighted our confidence in the 2015 positive free cash flow out look. However, the top-line outlook into 2016 remains uncertain. We would note that, in our view, management is taking the right steps to provide greater confidence and visibility on the balance sheet risk, while starting to outline the initial framework for a growth strategy."

For an analyst ratings summary and ratings history on Erickson Air-Crane click here. For more ratings news on Erickson Air-Crane click here.

Shares of Erickson Air-Crane closed at $3.73 yesterday.

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