Air Lease price target raised to $48 from $46 at Barclays

Barclays raised the firm’s price target on Air Lease to $48 from $46 and keeps an Overweight rating on the shares. Several insurance recoveries were realized this past quarter, but there is more upside to book values from additional Russia insurance recoverables, the analyst tells investors in a research note. The firm reiterates Overweights on both lessors and sees more near-term upside on AerCap (AER), saying Air Lease (AL) “is at a deep discount and could benefit from a more material rerate.”