FTAI Aviation price target raised to $156 from $118 at Compass Point

Compass Point analyst Giuliano Bologna raised the firm’s price target on FTAI Aviation to $156 from $118 and keeps a Buy rating on the shares. FTAI has “created a new value-added business model in an environment where the narrowbody engine market is expected to remain under-supplied through somewhere between late-2026 and early-2030,” says the analyst, who adds that the aerospace products segment is very well-positioned to see EBITDA step up over the next few quarters and exit FY24 with an annualized EBITDA run-rate of about $400M-plus. The firm adds that it believes the probability that FTAI will continue to outperform expectations is “high” and that the macro backdrop is expected to be “extremely favorable for the next few years.”