Truist raised the firm’s price target on AAR Corp. to $60 from $57 and keeps a Buy rating on the shares after its better than expected Q3 results thanks to growth in commercial revenues and the "opportunistic" government growth in the quarter. Overall demand trends across the company’s parts, repair and distribution portfolio remain favorable, the analyst tells investors in a research note. The firm further states that while the elevated interest expense is a headwind to FY24 EPS, AAR’s margins should expand on SG&A leverage and Trax contributions.
Published first on TheFly
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Read More on AIR:
- AAR Corp. price target raised to $58 from $55 at RBC Capital
- AAR Corp. price target raised to $55 from $50 at Benchmark
- AAR Corp. reports Q3 EPS 63c vs. 64c last year
- AAR reports third quarter fiscal year 2023 results
- AAR acquires Trax, a leading provider of aircraft MRO and fleet management software
