Seaport Global analyst Kevin Sterling initiated Atlas Air (AAWW) with a Buy and a $65 price target due to its potentially expanding relationship with Amazon.com (AMZN). Atlas is in the process of ramping 20 converted Boeing 767-300 freighters with Amazon on a CMI leasing basis. Sterling said Amazon is expending its hub operating to Cincinnati/Northern Kentucky airport and which will give the company the ability to park 100 planes at any given time at the airport, and two weeks ago, Cargo Facts reported that Amazon could be in discussion with Boeing to purchase 100 or more 767 freighters. The analyst told investors Atlas and Air Transport Services (ATSG) are well positioned to benefit from Amazon's transportation network growth as both are partners in the leasing and flying of the planes.

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