JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
FTAI Aviation Ltd. (NASDAQ:FTAI) announced Tuesday that its audit committee has approved the appointment of KPMG LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The decision was effective as of June 17, following a competitive selection process.
The company also reported that it dismissed Ernst & Young LLP (EY) as its independent auditor on June 17. EY had served in this role since 2016. According to the company’s statement, the change was not related to any dissatisfaction with EY’s services.
Paul Goodwin, chair of the audit committee, stated, “We have had a great relationship with EY and appreciate their hard work for nearly a decade during a period of significant growth for the Company. Given the Company’s successful internalization and recent termination of our transition services agreement with our former manager, and in an effort to practice good corporate governance, the Audit Committee believed it was the right time to review the Company’s auditor selection.”
FTAI Aviation confirmed that EY’s reports on the company’s consolidated financial statements for the years ended December 31, 2024 and 2023 did not contain adverse opinions or disclaimers, and were not qualified or modified as to uncertainty, audit scope, or accounting principle. The company also stated that during the fiscal years ended December 31, 2024 and 2023, and the interim period through June 17, 2025, there were no disagreements or reportable events with EY as defined by SEC regulations.
Additionally, FTAI Aviation noted that neither the company nor its representatives consulted with KPMG on accounting principles, audit opinions, or any reportable events prior to KPMG’s engagement.
A letter from EY addressed to the Securities and Exchange Commission, dated June 24, 2025, was filed as an exhibit to the report. All information is based on a press release statement and SEC filing.
In other recent news, FTAI Aviation’s Annual General Meeting concluded with shareholders voting on several key proposals, including the election of directors and executive compensation. Two directors, Paul R. Goodwin and Ray M. Robinson, were elected to serve until 2028, while executive compensation was approved with a majority vote. Shareholders also ratified Ernst & Young LLP as the company’s independent auditor for the fiscal year ending December 31, 2025. On the analyst front, JMP maintained a Market Outperform rating for FTAI Aviation, citing potential earnings growth that the market has yet to fully appreciate. Benchmark analysts reaffirmed a Buy rating and a $300 price target following insider purchases by company executives, interpreting these actions as a strong signal of confidence in the company’s strategic direction. Additionally, Stifel upgraded FTAI Aviation from Hold to Buy, setting a $123 price target, despite noting some initial confusion in recent earnings reports. The analysts believe the stock is currently undervalued and see potential for increased cash flows from the company’s Strategic Capital Initiative. Furthermore, FTAI Aviation expanded its Board of Directors with the appointment of Shyam Gidumal as an independent director, indicating ongoing strategic developments within the company.
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