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Fly News Breaks for September 26, 2019
AIR
Sep 26, 2019 | 08:55 EDT
SunTrust analyst Michael Ciarmoli raised his price target on AAR Corp to $46 after its "strong" Q1 results, citing "continued strength" and new contract wins in its Aviation Services business and an inflection in its Maintenance, Repair and Overhaul revenues. The analyst also notes the management's outlook for SG&A expense tracking around 10.5% of revenue levels, adding that the margin weakness in AAR's Expeditionary Services business along with its use of cash will be his watch items. Ciarmoli keeps his Hold rating on the shares.
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