UPDATE: Imperial Capital Initiates Embraer SA at Outperform on AMR Reorganization
Imperial Capital initiated coverage on Embraer SA (NYSE: ERJ) with an Outperform rating and a $32 price target.
Imperial Capital commented, "We believe conditions in the U.S. airline industry are such that both ERJ and its Canadian competitor, Bombardier, will likely see substantial commercial regional jet orders in the coming weeks and months. We doubt investors and analysts fully appreciate the changes taking place in the U.S. airline industry, nor the magnitude of the likely resulting orders."
Embraer SA closed at $27.60 on Thursday.
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