AAR Corp's (AIR) stock surged 6.39% during intraday trading on Wednesday, reflecting strong investor confidence following the company's latest earnings report.
The aviation services provider reported adjusted earnings of $1.18 per share for Q2, surpassing analyst estimates of $1.03, driven by robust performance in its parts distribution segment. The company also issued optimistic guidance, forecasting sales growth of 20%-22% for the current quarter. Analysts at RBC and Truist Securities raised their price targets to $105 and $99, respectively, citing confidence in AAR's growth trajectory amid a recovering aviation market.
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