Goldman Raises Estimates For AAWW

Atlas Air Worldwide Holdings, Inc.

announced that "[it[ expects 2010 EPS to exceed $5.30 vs. its prior expectation of above $4.35, citing stronger Commercial air freight demand than previously anticipated, continued tight supply, and high ACMI customer utilization levels," according to Goldman Sachs, which has raised 2010 EPS by 17% to reflect seasonal ramp-up in air freight rates. Goldman believes that "the risk/reward profile is balanced between (1) upside risk from tight freighter market supply-demand and pricing and (2) downside risk from potentially steeper declines in US military flying from peak war levels (33% of 2010 direct contribution, 10% of fleet value deployment)." Goldman maintains its Neutral Rating but has raised the price target to $55 from $54. Atlas Air Worldwide Holdings, Inc. closed yesterday at $53.18.