As previously reported, Imperial Capital analyst Michael Derchin upgraded Air Transport Services (ATSG) to Outperform from In-Line and raised his price target on the stock to $27 from $19 after Amazon (AMZN) announced a new agreement to lease and operate ten additional 767s over the next two years. The e-commerce giant also renewed leases and operating agreements on twenty other aircraft and now owns 33.2% of Air Transport via warrants, Derchin noted. The new pact with Amazon is likely to lead to strong revenue and earnings growth through at least FY20, contends Derchin.
Imperial Upgrades Air Transport Services To Outperform After Amazon Deal Inked
imperial Capital analyst Michael Derchin upgraded Air Transport Services (ATSG) to Outperform from In-Line and raised his price target on the stock to $27 from $19.
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