AAR Corp's (AIR) stock surged 5.07% in pre-market trading on Wednesday, following the release of its fiscal second-quarter earnings report that exceeded analyst expectations.
The aviation services provider reported adjusted earnings of $1.18 per share, beating the consensus estimate of $1.03, driven by strong performance in its parts distribution segment. The company also issued optimistic guidance, forecasting robust sales growth for the current quarter. Analysts at RBC and Truist Securities raised their price targets to $105 and $99, respectively, reflecting confidence in AAR Corp's growth trajectory.
The stock's upward momentum underscores investor enthusiasm for the company's ability to capitalize on a recovering aviation market, supported by strategic acquisitions and operational efficiency.
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