Why Air Transport Services Stock Is Gaining Altitude Today
Earlier today, a Wall Street analyst said Air Transport Services Group (NASDAQ: ATSG) was "misunderstood," and declared that the cargo operator is a good backdoor way to invest in e-commerce. Investors are taking notice, sending Air Transport shares up as much as 5%.
ATSG ranks as the world's largest owner and operator of Boeing 767 freighters, providing aircraft leasing and air cargo services for a broad range of clients. Its largest customer is Amazon, operating part of the e-commerce giant's air cargo fleet.
On Wednesday, Oppenheimer analyst Ian Zaffino initiated Air Transport with an outperform rating and assigned a $27 price target to the stock. Zaffino called ATSG a "misunderstood play in the e-commerce value chain" with diversified revenue streams.
Source Fool.com
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