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FTAI Infrastructure: American Hard Assets With Upside
FTAIFTAI Aviation(FTAI) Seeking Alpha·2024-06-16 08:02

Monty Rakusen I initiate coverage on FTAI Infrastructure (NASDAQ:FIP) with a buy rating and price target of 11/shby1Q2025.CashflowsfromTranstar′sstrongandconsistentperformancewillenableFIPtofinalizeagreementsonitsremainingsegments,unlockingaccretiveEBITDAbythefourthquarterof2024.Thereisahighprobabilitythatthecompanycangenerateroughly11/sh by 1Q2025. Cash flows from Transtar's strong and consistent performance will enable FIP to finalize agreements on its remaining segments, unlocking accretive EBITDA by the fourth quarter of 2024. There is a high probability that the company can generate roughly 200mm in EBITDA by the second quarter of 2025, translating to an intrinsic value of $14 per share, minus a generous discount for poten ...