Indigo Air looks way undervalued. Just announced 98Q1 EPS of $0.42 vs $0.28, up 50% on solid numbers, with trailing P/E of less than 10 now, with good prospects for future.
Indigo buys aircraft from airlines around the world, then leases them back, a growing trend. Indigo also remarkets aircraft. Aircraft lease portfolio now 25 with a dozen airlines in a dozen countries, and several more leases beginning this Q.
Why so undervalued? Just got listed on NASDAQ in April. BT Alex Brown (one of the underwriters, along with Salomon Smith Barney) just initiated a "strong buy" rating on Friday 5/15, the day after 98Q1 earnings came out.
Looks undiscovered, and a good deal. Could be trading now for 15 - 20 times trailing EPS of $1.37+, putting fair value now up 50% - 100% to $21 - $27+ (it's currently at $14+).
Someone please tell me if I'm wrong. |
