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Mar 31 2021, 15:00 IST/BST
Aircraft Leasing
G(ains), E(quity discount), C(onviction), A(ccretion) and S(ynergies)
- Sectors : Aircraft Leasing
- Companies : AerCap Holdings | Air lease | Avation
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| AerCap Holdings | OUTPERFORM | 27/06/17 | N/A | N/A | 5958c |
| Air lease | OUTPERFORM | 01/11/19 | N/A | N/A | 5001c |
| Avation | OUTPERFORM | 01/11/19 | N/A | N/A | 100.0p |
DAVY VIEW
Timing cannot be taught but a vehicle for value-creation can be bought. We believe AerCap’s acquisition of GECAS will improve the returns of the newco, while a broader base and new asset types may improve their consistency. We set new price targets of $76.0 for AerCap and $56.0 for Air Lease; in the case of the latter, steady and profitable growth remains underappreciated.
