Stifel lowered the firm’s price target on Air Transport Services to $27 from $30 and keeps a Buy rating on the shares after the company held an investor day and gave EBITDA and capex guidance for 2024 and 2025. The 2024 and 2025 guidance was “lighter than we and the Street had expected,” says the analyst, who is taking down the firm’s target, stating “we aren’t comfortable increasing valuations until the story is further de-risked.”
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