ASLE - AerSale rated Buy as Stifel initiates coverage with $23 target

AerSale ( NASDAQ: ASLE ) was started with a Buy rating and price target of $23 in new coverage from Stifel. The investment bank sees a chance for strong sales and earnings growth at the supplier of aviation products.

AerSale’s stock closed at $19.28 a share the day before Stifel published its report. The price target suggests a possible gain of 19%. The stock has jumped 80% from its year-to-date low of $12.78 on May 9.

“As passenger air travel demand returns to/above pre-pandemic levels and cargo trends continue to improve on the back of heightened ecommerce sales, we believe the runway for AerSale is favorable,” Bert Subin, an analyst at Stifel, said in the report.

Seeking Alpha contributor Chris DeMuth Jr. rates AerSale as a Strong Buy on its solid financials and growth potential .

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