UPDATE: Dahlman Rose Downgrades Aircastle Limited to Hold on Limited Near-Term Upside

Dahlman Rose downgraded Aircastle Limited (NYSE: AYR) from Buy to Hold.

Dahlman Rose commented, "We are downgrading Aircastle to Hold from Buy. We believe the shares are fairly valued at current levels given the fleet and exposure to the air freight market. Aircastle has committed $210MM in assets for delivery in 2013 but expects to eventually match last year's investment of $843MM."

Aircastle Limited closed at $13.99 on Thursday.