KeyBanc Upgrades AAR Corporation (AIR) to Buy

KeyBanc upgraded AAR Corporation (NYSE: AIR) from Hold to Buy with a price target of $30.00.

Analyst Kevin Ciarmoli said, "Following a topping out of growth expectations in mid-’14, we believe conditions in the commercial OE market will continue to decelerate, with a more pronounced moderation in aircraft orders amid maturation of the cycle and cheaper oil. The decline in oil prices also increases our caution around a number of names that are more directly exposed to the upstream energy market. On the other hand, lower fuel prices brought on by the fallout improve the outlook for commercial aftermarket and retrofit activity. We are also more optimistic on underlying conditions in the defense market, given a bottoming of the DoD’s budget cycle."

For an analyst ratings summary and ratings history on AAR Corporation click here. For more ratings news on AAR Corporation click here.

Shares of AAR Corporation closed at $25.97 yesterday.

You May Also Be Interested In

• BofA Securities Upgrades Tesla (TSLA) to Buy on wind up of positive catalysts
• BofA Securities Starts GE Vernova (GEV) at Neutral, 'Multiyear turnaround amid positive demand backdrop'
• Mattel Inc. (MAT) PT Raised to $26 at BofA Securities