Erickson Air-Crane price target raised to $12 from $10 at DA Davidson DA Davidson increased its price target on Erickson Air-Crane as the firm expects the company to benefit from a higher than expected amount of fires in Australia this season. The firm maintains a Buy rating on the stock.
News For EAC From The Last 14 Days
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Erickson Air-Crane sees FY13 pro forma revenue $385M-$395M May not compare to consensus $188.73M. Erickson provided FY13 guidance for revenues and Adjusted EBITDA that reflects a reiteration of the company’s previously communicated expectations for its base business and the inclusion of expected results for the acquired EHI business. The company now expects to report FY13 revenues in the range of $325M-$335M, and adjusted EBITDA $93M-$101M. On a pro forma basis, as if the acquisition and associated financing had occurred on January 1, the company expects full year revenues in the range of $385M-$395M and adjusted EBITDA $108M-$116M.
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