AerCap resumed with a Buy at Goldman Sachs

Goldman Sachs analyst Catherine O’Brien resumed coverage of AerCap with a Buy rating and $74 price target, implying 38% upside to current levels. The analyst believes the market is more than pricing in any potential negative impact to AerCap’s financials or access to capital, which it says is underpinned by the company’s performance through both the pandemic and the events in Russia. The firm expect demand for aircraft to continue to outstrip supply, driving higher lease rates and gains on sales for AerCap.