AerSale downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded AerSale to Sector Perform from Outperform with a price target of $15, down from $20. The company reported “very soft” Q2 results and faces incremental delays with AerAware, the analyst tells investors in a research note. The firm is confident that Q2 “represents the trough,” but sees incremental risk to AerSale’s margins and free cash flow from softening cargo markets, working capital investments, and asset sale timing.