Downgrades Buy Underperform X

AL Air Lease

BofA Securities

$72 $50

Resumed Buy X

AL Air Lease

Goldman

$65

Resumed Buy X

AL Air Lease

TD Cowen

$56 $58

Reiterated Buy X

AL Air Lease

TD Cowen

$59 $56

Initiated Outperform X

AL Air Lease

BMO Capital Markets

$54

Initiated Overweight X

AL Air Lease

Barclays

$46

Initiated Neutral X

AL Air Lease

Citigroup

$41

Resumed Buy X

AL Air Lease

Goldman

$59

Initiated Buy X

AL Air Lease

HSBC Securities

$50

Reiterated Outperform X

AL Air Lease

Cowen

$50 $49

Initiated Buy X

AL Air Lease

Goldman

$52

Initiated Outperform X

AL Air Lease

Macquarie

Upgrades Neutral Buy X

AL Air Lease

BofA/Merrill

AL  Air Lease Corporation Class A

Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines. The Company also provides fleet management services to investors and owners of aircraft portfolios for a management fee. The Company provides aircraft to airline customers in various markets, such as Asia, the Pacific Rim, Latin America, the Middle East, Europe, Africa and North America. As of December 31, 2016, the Company had 237 owned aircraft and 30 aircraft in its managed fleet portfolio.