Ratings and PTs for CHR... With the release of in-line fourth-quarter results and pointing to a reported agreement with Brookfield Asset Management to bid on U.K.-based regional aircraft lessor Falko Regional Aircraft, National Bank’s Cameron Doerksen raised his Chorus Aviation Inc. target to $4.65 from $4.30 with a “sector perform” rating.
Others making changes include: CIBC’s Kevin Chiang to $6 from $5.50 with an “outperformer” rating; BMO’s Fadi Chamoun to $5.50 from $5.25 with an “outperform” rating and Canaccord Genuity’s Matthew Lee to $6 from $5.75 with a “buy” rating. The average is $5.46.
“We are encouraged by the positive trends for Chorus Aviation, especially on the improving outlook for the leasing segment. Potential M&A could also offer upside for the stock. However, we do not find the stock’s current valuation overly compelling,” said Mr. Doerksen.