EarlyBird Capital Lowers AAR PT, Reiterates Buy

EarlyBird Capital lowered its AAR (NYSE: AIR) price target from $30 to $23 and reiterated its AAR Buy rating in a research report published today.

In the report, EarlyBird Capital states, "We believe AIR is in good markets and if management can continue to execute it will prove to be a very undervalued story. As a result we reiterate our BUY rating. That said, given our disappointment with the guidance relative to our prior expectations and our tempered enthusiasm for AIR's end markets we believe it appropriate to risk adjust our expectations toward the stock."

Shares of AAR were trading at $17.19 at the time of posting, up 2.69% from Tuesday's market close.