FTAI Aviation downgraded to Hold from Buy at Stifel

Stifel downgraded FTAI Aviation to Hold from Buy with a price target of $59, up from $40. The company had a good quarter – selling more modules than expected and having better utilization of its leasing portfolio, the analyst tells investors in a research note. However, the firm views the stock as “having run as far as it can” until the PMA engine is approved. While the aerospace segment has very large bands for outcomes that could drive the stock higher, and FTAI’s momentum is “certainly strong,” at the current valuation, the risk/reward is less compelling, the analyst tells investors in a research note.