** Citi upgrades aircraft lessor Air Lease Corp to "buy" from "neutral", raises PT to $68 from $45
** New PT implies ~16% upside to stock's last close
** Shares of AL rise 1.2% to $57.83 premarket
** Air Lease has received $559 million in insurance settlements for assets stuck in Russia, which could be used for share buybacks or other opportunities, brokerage says
** Adds share buybacks could increase earnings per share by $0.05 for every $100 million spent
** However, brokerage considers Air Lease's shares to be less attractive than those of its peers, AerCap AER.N and FTAI FTAI.O, due to their stronger performance and balance sheets
** As of last close, AL stock up 18.5% YTD
(Reporting by Padmanabhan Ananthan)
((Padmanabhan.Ananthan@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.