Morgan Stanley lifts FTAI Aviation's PT on IAE, Lockheed Martin deals

FTAI Aviation

13/06/2024 12:12

** Morgan Stanley lifts aviation leasing company FTAI
Aviation's  FTAI.O  PT to $105 from $85, representing a 20%
upside to stock's last close
    ** Notes co's new revenue streams from recent 5-year
maintenance service agreement with International Aero Engines
(IAE), and purchase agreement of Lockheed Martin Commercial
Engines Solutions
    ** Also sees upside to co's performance from operational
changes on its spinoff from Fortress
    ** Says FTAI to benefit from current aerospace upcycle given
its product offering within scarce engines and maintenance,
repair and operations (MRO) markets
    ** Six brokerages rate the stock "strongbuy", four "buy" and
one "hold"; their median PT is $90.0 - LSEG data
    ** Stock had risen 88% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))