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UPDATE: Bank of America Reiterates on Air Lease Following Solid 4Q13 Results

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In a report published Tuesday, Bank of America analyst Glenn D. Engel reiterated a Neutral rating on Air Lease (NYSE: AL), and raised the price target from $28.50 to $40.00.

In the report, Bank of America noted, “AL trades at premium valuation to the sector, but we believe this is justified given its young fleet, large order book, low financial leverage, favorable operating leverage, and renowned management team with strong industry connections. AL has less short-term earnings risk given limited upcoming lease renewals and fully placed near-term order book, but perceptions of AL's order book could turn sour if demand for aircraft falters.”

Air Lease closed on Monday at $36.76.

Latest Ratings for AL

DateFirmActionFromTo
Jan 2021Deutsche BankMaintainsBuy
Nov 2020Credit SuisseMaintainsOutperform
May 2020Deutsche BankMaintainsBuy

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View the Latest Analyst Ratings

 

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Posted-In: Bank of America Glenn D. EngelAnalyst Color Price Target Analyst Ratings

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