Morgan Stanley notes that FTAI Aviation’s (FTAI) stock closed down about 24% yesterday, driven by a negative view on the company’s business model put forward in a short report. However, the firm maintains the view that FTAI provides value added Maintenance Repair and Overhaul work for customers within its Aerospace Products business and does not view the company’s depreciation standards as “egregious relative to peers.” The firm reiterates an Overweight rating and $168 price target on FTAI shares.
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