AAWW Sees 6% Growth Overall In 3Q
Goldman Sachs has published a research report on Atlas Air Worldwide Holdings, Inc. (NASDAQ: AAWW) after the company reported 3Q results that showed the company witnessed a +6% increase in air freight demand.
In the report, Goldman Sachs writes "AAWW was up 6% today as 3Q2010 results highlighted continued air freight demand and an outlook for only limited slowing in military charter demand. Given better revenue offset by higher maintenance expense, our 4Q10E EPS moves to $1.59 from $1.80. Due to better than expected ACMI revenue and longer use of the 747-200's, we raise our 2011E-2012E EPS to $4.89/$5.25 from $4.45/$5.10."
Goldman Sachs maintains its Neutral rating and has raised the price target from $54 to $59.
Atlas Air Worldwide Holdings closed yesterday at $55.60.
