Cowen lowered its price target on Air Transport Services Group (NASDAQ: ATSG) to $28.00 (from $30.00) while maintaining an Outperform rating, but said the pullback creates a buying opportunity.

Analyst Helane Becker commented, "We believe the sell off in ATSG's shares following the company's 2Q18 earnings release is somewhat unwarranted. We expected the stock to be down because of the slight earnings miss, but the 5%+ decline appears aggressive given projected 2H18 and 2019 growth."