Canaccord - now with a $2.75 target???The most negative analyst on this stock just raised his target to $2.75. Six months ago it was at $1.50. If he just gives it a few more rethinks, I am sure he can get it over $5.
To help him, let me provide a couple of hints:
- CHR is not winding up in 2020. Do you know how much flying they do for AC? Ask AC and they will explain how CHR is an important partner. Renegotiate for sure, but shut down is ridiculous.
- CHR has been buying back shares aggressively. Management is also in “productive” talks with AC. Do you remember last year when CHR was buying back shares at the low, and then won the arb battle? These guys are not idiots.
RBC and TD both have Buy ratings on CHR, and believe, very reasonably, that CHR and AC will meet in the middle somewhere on a new CPA. And when that happens, and the uncertainty is removed, I think this stock will go a lot higher.