maybe this has boosted it
Globe says Lee maintains Chorus Aviation at "buy"
2022-08-12 09:34 ET - In the News
The Globe and Mail reports in its Tuesday, Aug. 9, edition that Canaccord Genuity analyst Matthew Lee is keeping his "buy" call for Chorus Aviation intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Lee cut his share target by a loonie to $5. Mr. Lee says in a note: "Chorus reported Q2 results with EBITDA largely in line with expectations. Our key takeaway from the quarter was the company's commentary around its anticipated Falko fund. While the company modestly reduced its F22 guidance, we still believe the upside associated with its improved scale is substantial as Chorus becomes a dominant player in the regional aircraft leasing industry. On the legacy side, we were encouraged by Chorus's collection rate, although the repossession provisions in the quarter suggest the firm is not yet fully in the clear. We have reduced our estimates to reflect the firm's delayed fund." The Globe reported on May 10 that National Bank Financial analyst Cameron Doerksen saw a "compelling" valuation at Chorus Aviation following its acquisition of Falko Regional Aircraft. He boosted his rating to "outperform" from "sector perform." Chorus shares could then be had for $3.59.