UPDATE: Deutsche Bank Initiates Aircastle Limited at Buy on Attractive Yield

Deutsche Bank initiated coverage on Aircastle Limited (NYSE: AYR) with a Buy rating and a $17 price target.

Deutsche Bank commented, "Our positive thesis is supported by our views that (1) AYR has the key qualities we think define a successful aircraft lessor; (2) the company has a portfolio well-positioned to benefit from an upturn in the global economy and aircraft values; (3) AYR is tied to an industry that is still very much in its infancy globally, with strong prospects for long-term growth; and (4) AYR has an attractive valuation, supported by a relatively high dividend (yielding 5.5%) and share buybacks."

Aircastle Limited closed at $12.11 on Wednesday.

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