BUZZ-Jefferies initiates coverage on AAR Corp with 'buy' rating

Reuters12-17 19:46
BUZZ-Jefferies initiates coverage on AAR Corp with 'buy' rating

** Jefferies initiates coverage on aerospace & defense firm AAR Corp AIR.N with "buy" rating, price target of $100

** PT represents an upside of 22.7% from stock's last close

** Brokerage says AAR's transformed from a new and used aircraft parts supplier into a full-service aviation aftermarket portfolio, offering airframe maintenance, repair and overhaul, enabled by intellectual property stack and recurring software solutions

** Jefferies notes that AAR’s shift into higher-margin, predictable channels reinforces confidence in its projected 11% compound annual growth rate $(CAGR)$ through 2028

** Average rating of six brokerages is "buy" or higher; their median PT is $90, according to data compiled by LSEG

** As of last close, shares up 33% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com;))

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