Following the announcement that Air Partners has acquired Baines Simmons, Liberum has reiterated its BUY recommendation. Liberum’s research comments: “The acquisition of aviation safety consultancy Baines Simmons for up to £6m represents Air Partner’s entry into high value-added aviation services. The deal adds income streams that should be more stable than air charter broking, with better visibility and margins. We see the deal as 7% earnings-enhancing in the first full year, without assuming synergies. We reiterate our BUY recommendation and raise our target price to 505p from 480p (15% upside potential).”
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