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Dec 9 2019, 11:50 GMT
Ratings and price correct at time of issue
Company | Rating | Date | Previous Rating | Date | Closing Price |
---|---|---|---|---|---|
AerCap Holdings | OUTPERFORM | 27/06/17 | N/A | N/A | 6082c |
Air lease | OUTPERFORM | 01/11/19 | N/A | N/A | 4684c |
Aircastle | NEUTRAL | 01/11/19 | N/A | N/A | 3210c |
Avation | OUTPERFORM | 01/11/19 | N/A | N/A | 269.5p |
The fundamental underpinnings of the aircraft leasing sector remain broadly positive as we enter 2020, even if the MAX has added a layer of uncertainty. In light of recent updates, we have revised our forecasts for AerCap, Air Lease and Avation. Earnings growth and valuations remain attractive, supported by the expected take-out of Aircastle at 1.2x P/B, due to complete in 2020. For further detail, see our recent report (LINK).
Dec 9 2019, 11:50 GMT