Loop Capital lowered the firm’s price target on Air Transport Services to $24 from $30 and keeps a Buy rating on the shares. The company reported a “disappointing” Q3 result and reduced its FY23 guidance, implying that Q4 will be “more of the same”, the analyst tells investors in a research note. The two weaker-than-expected pieces that drove the deficit to expectations related to military passenger flying at Omni and the timing of leases at CAM, the firm adds.
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Read More on ATSG:
- Susquehanna downgrades Air Transport Services on ‘crown jewel’ pressure
- Air Transport Services downgraded to Neutral from Positive at Susquehanna
- Air Transport Services cuts FY23 EPS view to $1.50-$1.70, consensus $1.90
- Air Transport Services reports Q3 adjusted EPS 32c, consensus 49c
- Air Transport Services names Joe Hete CEO