Analyst is bullish on Atlas Air
-
- July
- 10
Shares of Atlas Air Worldwide Holdings Inc. could nearly double in the next year as the Harrison-based air cargo carrier benefits from strong demand for air freight shipments worldwide, according to BB&T Capital Markets.
BB&T rated the stock as a “buy†in a research report issued today. News of the positive recommendation helped push Atlas shares up 84 cents to $45.90 in trading today on the Nasdaq Stock Market.
The company, which transports medicine, clothing, electronics and other products around the world in its fleet of Boeing 747s, has recently been hurt by soaring prices for jet fuel.
The fuel costs contributed to a loss $5.3 million, or 25 cents a share, during the quarter that ended in March, compared with a profit of $6.2 million, or 29 cents a share, a year earlier. Operating revenues rose to $373.02 million from $355.34 million.
This entry was posted
on Thursday, July 10th, 2008 at 3:45 pm by Jay Loomis.
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