Imperial Upgrades Air Transport Services To Outperform After Amazon Deal Inked



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.

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.