RE:RE:NCIBnothing is wrong with the company
almost all bank analysts have a BUY rating on the company with targets between $3.75 and $4.75
Chorus Aviation Trading at Compelling Levels, CIBC Says 2023-09-18 10:27:22 AM ET (MT Newswires) 10:27 AM EDT, 09/18/2023 (MT Newswires) -- Chorus Aviation Inc. (CHR.TO) is trading at compelling levels, CIBC Capital Markets said. Analyst Kevin Chiang maintained an Outperform rating and $4 price target on shares of the Canadian holding company that owns regional airlines Jazz Aviation LP and Voyageur Airways. Chiang said CHR shares have declined more than 20% since the company reported Q2 results on August 2, with it delaying the close of its Fund III. "The closing of Fund III was an upcoming catalyst for CHR so this delay was disappointing," the analyst said in a note to clients. "That being said, the underlying trends in regional aircraft leasing remain healthy." Chiang said CHR has declined further since the Fund III delay, reflecting weakness across the North American airline equity space, due to rising fuel prices and commentary from US domestically-oriented airlines pointing to softer demand trends exiting the peak summer season. "CHR's earnings are backed by long-term contracts and do not fluctuate with changes in air travel demand or fuel prices," the analyst said. Chiang said CHR has shown it is willing to defend its share price and is active with share buybacks, repurchasing approximately 7.4 million shares year to date. "With the company's improving free cash flow profile, we see it buying back stock in support of its shares," the analyst said. "We would also expect CHR to eventually look to reinstate its dividend once its leverage ratio reaches its targets levels." | 09.18.23 | Buy | Maintained | | $4.75 | |
| 08.07.23 | Buy | Maintained | | $4.00 | |
| 08.07.23 | Buy | Maintained | | $3.75 | |
| 08.07.23 | Buy | Maintained | | $4.00 | |
| 08.07.23 | Buy | Reiterated | | $4.75 | |
| 05.09.23 | Hold | Maintained | | $4.00 |