Dahlman Rose Reiterates Buy Rating on Atlas Air Worldwide (AAWW)

Dahlman Rose is out with a research report this morning, where it reiterates its Buy rating on Atlas Air Worldwide AAWW; it has a $67.00 price target on the stock. The Dahlman Rose analysts noted that the company is adding two B747-400Fs to its DHL Express contract in March. They noted that these aircraft give them a higher degree of confidence in their EPS estimate for 2011, but an adjustment to their estimates of PT is not warranted at this time. As for valuation, the analysts remarked, “e currently forecast 2010 EPS of $5.42 growing to $5.71 in 2011. We are leaving our estimates unchanged at this time; however, given the two additional aircraft going to DHL, we now have a higher degree of confidence in our estimate for 2011. 2010 EPS are scheduled to be reported Monday, February 14.”