Air Transport Services price target lowered to $24 from $30 at Loop Capital

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.