Fortress Transportation (FTAI) Tops Q2 EPS by 3c, Revenues Miss

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Go back to Fortress Transportation (FTAI) Tops Q2 EPS by 3c, Revenues Miss

Fortress Transportation (FTAI) PT Raised to $17 at BofA Securities Due to Earnings and Cash Flow

August 3, 2020 11:23 AM EDT

BofA Securities analyst Ariel Rosa raised the price target on Fortress Transportation (NYSE: FTAI) to $17.00 (from $15.00) while maintaining a Buy rating citing considerable growth potential, acquisitions of new assets, additive to earnings and cash flow, expected earnings, and cash flow growth.

The analyst stated "FTAI reported 2Q20 Funds Available for Distribution (FAD) of $47.3 million, down -46% y-y, and just below our $51 million target.... More