AL - Air Lease rated Buy at Goldman Sachs in resumed research coverage

Air Lease ( AL ) on Tuesday was rated Buy by analysts at Goldman Sachs who resumed coverage of the airplane leasing company.

"Despite its better-than-expected performance through the pandemic and a marked recovery in air travel in 2022, Air Lease ( AL ) shares were down 13% last year as investors remained concerned about airline health and the leasing industry wrote off aircraft on lease to Russian airlines," according to Goldman Sachs. "Year-to-date, Air Lease ( AL ) shares have rebounded 11% as the outlook for global airline profitability has improved as international demand in particular is accelerating."

Goldman Sachs has a 12-month price target of $59 a share on Air Lease ( AL ).

Air Lease's ( AL ) revenue grew 0.7% from a year earlier to $601.6 million in Q4, beating estimates by $9.9 million. Net income of $134.9 million, or $1.21 a share, slipped 5.2% from $142.3 million, or $1.24 a share, a year earlier. The results beat analyst estimates of $1 a share.

Seeking Alpha contributor Grey Ghost Capital rates Air Lease ( AL ) as a Hold because of the costs associated with higher interest rates . Columnist Mike Zaccardi also has a Hold rating on Air Lease ( AL ) on its current valuation .

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