EADSF - Air Lease Corporation: Book Value Warrants A Buy Rating

2024-02-12 05:43:04 ET

Summary

• AL stock has gained 14.6% since November 2022, but it did not outperform the broader markets.
• Analyst expectations for Q4 2023 earnings project 12% revenue growth but flat earnings per share.
• The lack of supply of new jets and higher financing costs pose risks for Air Lease Corporation, but the company still has significant upside potential.

Air Lease Corporation ( AL ) stock has gained 14.6%, or a 15.2% total return, since I discussed Air Lease Corporation Q3 2023 earnings in November last year. The broader markets returned 15.1%, so I would say that while the stock did quite well, it did not show the strong outperforming nature that we are looking for. In fact, since I turned bullish on AL stock in May 2022, share price development has failed to impress as its 12% return in stock price value fell short of the 22% that the broader markets gained. Also, amongst Seeking Alpha analysts, there seems to be no strong consensus. In a recent report , Greathouse Research marked the stock as a strong sell while analyst Diesel has a buy rating in the stock. Back in November 2023, I marked the shares a buy while analyst Seeking Profits rated Air Lease Corporation stock a Hold....

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