UPDATE: Dahlman Rose Upgrades Atlas Air Worldwide Holdings to Buy, Reiterates $57 PT

In a report published earlier today, Dahlman Rose & Co. upgraded its rating for Atlas Air Worldwide Holdings, Inc. (NASDAQ: AAWW) from Hold to Buy, and reiterated its $57.00 price target.

Dahlman Rose went on to say “At current levels we believe the upside potential outweighs the downside risk. We believe at a peak earnings multiple of 15x Atlas should trade at $77/share and using a trough multiple of 8x sets the downside at $41/share. At current share levels, we believe the upside potential to our $57 price target of 29%+ outweighs the downside risk of 7%.”

Atlas Air Worldwide Holdings, Inc. closed on Friday at $44.85.