After FTAI Aviation (FTAI) disclosed that the Audit Committee of the Board has commenced an independent review following a recent short report and noted that management is “strongly disagreeing” with the assertions, Jefferies analyst Sheila Kahyaoglu calls this path “prudent corporate governance” and “the most thorough means to ultimately clear its name in the event of no wrongdoing.” However, this will take longer than some may like and a detailed rebuttal would be welcome, adds the analyst, who cannot rule out that restatements are possible in any independent review. The analyst, who adds that a possible delay of the 10-K filing “spooked shares,” maintains a Buy rating and $200 price target on FTAI.
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