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AerCap up for sale?

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AerCap up for sale?

It has been reported that AerCap is exploring strategic opportunities, which may include a possible sale of all or part of the company. Gary S. Liebowitz, senior analyst at Wells Fargo comments in his Leasing Letter that “in a take-out scenario AER shares could fetch at least $17/share - i.e., a 50+% premium from the current price. This is based on the recent acquisition of RBS Aviation by Sumitomo, which was reportedly at a small (<5%) premium to book value; AER's current book value is ~$16.75. In fact, there is (arguably) $2-$3/share of ''hidden'' book value at AER from the under-statement of aircraft values relative to current appraisal levels.”

He also reiterated his Outperform rating on AER shares, which he considered to be undervalued.