AerSale price target lowered to $19 from $23 at Truist

Truist lowered the firm’s price target on AerSale to $19 from $23 and keeps a Buy rating on the shares. The company’s Q3 earnings fell short of estimates and the management also cut its 2023 guidance, continuing to make the stock an “anomaly” against the backdrop of a robust commercial aero aftermarket, the analyst tells investors in a research note. The weakening cargo market is impacting AerSale’s ability to sell converted 757s while the FAA’s approval of AerAware continues to slide to the right, the firm added.