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In a report published Friday, Morgan Stanley analyst John D. Godyn reiterated an Overweight rating on
Air Lease Corp.AL, but removed the $38.00 price target.
In the report, Morgan Stanley noted, “AL reported 1Q14 EPS of $0.57, a beat vs. our estimate of $0.52 and consensus of $0.50. Though the beat was largely due to AC sales, mgmt commentary regarding demand for leased aircraft was notably bullish, best illustrated by the disclosure that AL is receiving indications of interest for forward lease arrangements in the 2017-2019 time period – further out than normal. Most importantly, 1Q14 EPS showcased 3 sources of material future EPS upside not in consensus.”
Air Lease Corp. closed on Thursday at $37.22.
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