Deutsche Bank Downgrades Aircastle Limited (AYR) to Hold

Deutsche Bank downgraded Aircastle Limited (NYSE: AYR) from Buy to Hold with a price target of $19. Analyst Richa Talwar sees shares as fully valued.

"Along with respectable results overall, AYR generated greater aircraft sale gains of $12.8 mm in the Mar Q (vs. DBe of $8.5 mm), underscoring our view that the company remains a skilled investor and manager of aircraft assets. We continue to expect AYR to contribute to its solid financial track record in 2016, led by the same factors driving the good results we’ve seen in recent Qs. However, after having appreciated ~35% from when it reported FY 2015 results in February, and assuming our modestly raised forecast incorporating the positive trends we expect, AYR shares seem fairly valued at current levels. Hence, we are downgrading AYR shares to Hold from Buy," said Talwar.

For an analyst ratings summary and ratings history on Aircastle Limited click here. For more ratings news on Aircastle Limited click here.

Shares of Aircastle Limited closed at $21.07 yesterday.

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