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

June 21, 2021 4:29 PM EDT
Get Alerts AAWW Hot Sheet
Price: $65.63 +1.17%

Rating Summary:
    10 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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(Updated - June 21, 2021 4:32 PM EDT)

Stifel analyst Frank Galanti resumes coverage on Atlas Air Worldwide (NASDAQ: AAWW) with a Buy rating and a price target of $90.00.

The analyst commented, "Atlas is a leading air cargo lessor and outsourced aviation services with a fleet of 113 aircraft. With primarily factory-built cargo airplanes that operate in the longer trades, the company operates ~30% of its fleet in the charter market, which has worked out very well in terms of timing. As a result of the market tightness, Atlas's customers locked up capacity for 1-3 years. With some near-term stability, cash flows should transform the already significantly de-levered balance sheet. As a leasing company, Altas is generally at the whims of the market, however that can be mitigated with good assets, a solid balance sheet, good customer mix/contract duration, and thoughtful capital allocation, which the company has in spades. Importantly, we estimate that the company still trades at a ~25% discount to mid-cycle valuations, which is the basis of our Buy recommendation."

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 $66.99 yesterday.

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