FTAI Aviation assumed with Outperform from Peer Perform at Wolfe Research

Wolfe Research analyst Myles Walton upgraded FTAI Aviation to Outperform from Peer Perform with a $38 price target after assuming coverage of the name. The firm sees see FTAI as an attractive play on the ongoing recovery in commercial aerospace. “Importantly, although leasing is its past, aerospace products is its future,” the analyst tells investors in a research note. Given the ongoing recovery in aerospace and corresponding need for lift, demand for FTAI’s leasing portfolio should remain solid, but the real driver for the company will be growth in the Aerospace Products segment, writes Wolfe.