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Investing.com - Citi has reiterated a Buy rating and $160.00 price target on FTAI Aviation (NASDAQ:FTAI) while opening a positive 90-day catalyst watch on the shares. The company, currently valued at $11.3 billion, has shown strong momentum with revenue growth of 58.5% in the last twelve months. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $123 to $300.
The investment bank expects FTAI to announce final Parts Manufacturer Approval (PMA) for the CFM56 engine within the next three months, which could boost the company’s engine module volumes, aerospace EBITDA, and free cash flow generation.
Citi notes that FTAI expressed optimism about global engine module growth, development of its aircraft leasing partnership, and growing potential for authorities to grant final approval on PMA for CFM56 engine modules.
The catalyst watch anticipates FTAI shares could recoup at least some of their lost valuation, as the stock is currently trading 39% below its 52-week high as of Wednesday’s close.
Key risks to this outlook include additional uncertainty in the U.S. that could dampen investor risk appetite, as well as any factors that might impact the global reputation of CFM56 engine modules.
In other recent news, FTAI Aviation Ltd. has made significant developments that are of interest to investors. The company announced the appointment of KPMG LLP as its new independent auditor, replacing Ernst & Young LLP, which had served since 2016. This change follows a competitive selection process and is not due to any dissatisfaction with EY’s services. Additionally, at the company’s Annual General Meeting, shareholders ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, prior to the transition to KPMG.
In analyst updates, JMP analysts maintained a Market Outperform rating for FTAI Aviation, expressing confidence in the company’s future earnings potential despite a recent stock price fluctuation following the first-quarter earnings release. Furthermore, Benchmark analysts upheld a Buy rating with a $300 price target, highlighting insider purchases by the CEO and COO as a sign of leadership’s confidence in the company’s strategic direction. In governance news, the company expanded its Board of Directors, appointing Shyam Gidumal as an independent director, increasing the board to seven members. These developments reflect ongoing strategic moves and governance enhancements at FTAI Aviation.
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