Oppenheimer Keeps a Buy Rating on Corporacion America Airports SA


In a report released today, Ian Zaffino from Oppenheimer maintained a Buy rating on Corporacion America Airports SA (NYSE: CAAP), with a price target of $18. The company’s shares closed yesterday at $11.55.

Zaffino said:

“Strong passenger traffic activity in Argentina and Brazil drove adjusted EBITDA to $136.8M, vs. our/Street’s $123.5M/$130M. Passenger volumes improved 7.6% YoY to 19.6M, driven by the addition of new routes, increased frequencies on existing routes, and entrance of low cost carriers. Despite the solid quarter, management expects Argentinian domestic passenger traffic to slow, owing to the peso’s recent depreciation. We lower our 2018E EBITDA to $497M from $508M. Maintain Outperform.”

According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 3.2% and a 56.4% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Peak Resorts, and Six Flags.

Corporacion America Airports SA has an analyst consensus of Moderate Buy, with a price target consensus of $18.

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The company has a one-year high of $17.99 and a one-year low of $9.94. Currently, Corporacion America Airports SA has an average volume of 246.2K.

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Corporacion America Airports SA engages in acquiring, developing, and managing airport concessions. It operates through the following geographical segments: Argentina, Italy, Brazil, Uruguay, Ecuador, Armenia, and Peru. The company was founded on December 14, 2012 and is headquartered in Luxembourg.

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