Shares of FTAI Aviation Ltd (FTAI) jumped 5.11% in pre-market trading on Friday, following a significant upgrade from Stifel. The surge comes as investors react positively to the improved outlook for the aviation services company.
Stifel analyst Frank Galanti upgraded FTAI Aviation to Buy from Hold, maintaining the price target at $123. This upgrade appears to be the primary driver behind the stock's pre-market rally. Galanti's decision to raise the rating while keeping the price target unchanged suggests a more optimistic view of the company's near-term prospects.
The upgrade comes at a time when the aviation industry continues to recover from the impacts of the global pandemic. FTAI Aviation, which specializes in aircraft leasing and aviation-related services, seems well-positioned to benefit from the sector's rebound. However, it's worth noting that RBC has concurrently cut its target price for FTAI from $140 to $130, indicating some divergence in analyst opinions. Despite this, the market appears to be focusing on the positive signal from Stifel's upgrade.
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