AerSale price target lowered to $12 from $19 at Truist

Truist analyst Michael Ciarmoli lowered the firm’s price target on AerSale to $12 from $19 but keeps a Buy rating on the shares after its Q2 results. The quarter saw a major top and bottom line miss as the lumpy nature of the business pushed sales into Q1, and the management also announced that numerical forward guidance will no longer be provided due to how unpredictable the business is, the analyst tells investors in a research note. Truist added however that inventory is well positioned heading into 2024, and the firm believes that a series of new MRO contracts will likely provide increased visibility.