Chorus Aviation on Course to Produce "Significant Cash Flow" BMO Capital Says Chorus Aviation on Course to Produce "Significant Cash Flow"
2022-09-15 02:01:45 PM ET (MT Newswires)
Chorus Aviation announced the retirement of Joe Randell, CEO, effective Q1/23 with Colin Copp, current COO and President of Aviation Services succeeding him. An orderly transition, that does not come as a surprise to BMO Capital's Fadi Chamoun.
"We believe that a combination of more predictable earnings from aviation services in coming years and the transformative acquisition of Falko put the company on a course to produce significant cash flow, which we believe will support debt reduction and higher valuation."
BMO has an Outperform rating and $6 target on Chorus.