TD "Thumbs up" for CHR Globe says Chorus, Air Canada get TD analyst thumbs-up
Chorus Aviation Inc (C:CHR)
Shares Issued 201,332,016
Last Close 1/26/2023 $3.67
Friday January 27 2023 - In the News
Also Air Canada (C:AC) In the News
Also Transat AT Inc (C:TRZ) In the News
The Globe and Mail reports in its Friday edition that TD Securities analyst Tim James says that while Air Canada and Chorus Aviation have moved beyond pandemic-related government support, "We think that the willingness of government to step in, and assist airlines during the pandemic... reduces the long-term risk profile of the sector." Chorus Aviation is an aircraft lessor and owner of Jazz Aviation LP and Voyageur Aviation Corp. Mr. James has a buy rating on Air Canada with a 12-month target of $26 a share, and on Chorus Aviation with target of $5 a share. For Chorus, there is long-term upside potential from its leasing business after partnering last year with Brookfield Asset Management to acquire U.K.-based Falko Regional Aircraft, he adds. However, Mr. James has a "reduce" rating on tour operator Transat AT because it "generates greater risk based on its historical margin profile, balance sheet and revenue mix." Air Canada scrapped its proposed $190-million deal in 2021 to acquire Transat after being advised by the European Commission that it would not approve the transaction.