Deutsche Bank Initiates Coverage Of Chorus Aviation 2023-01-12 11:16:36 AM ET (MT Newswires)
11:16 AM EST, 01/12/2023 (MT Newswires) -- Deutsche Bank said Thursday that it initiated coverage of Chorus Aviation Inc. (CHR.TO) with a buy rating and $5.00 price target.
Chorus provides aviation solutions to the regional aviation sector including aircraft acquisition and leasing, contract flying, specialty charter, aircraft modification, and parts provisioning.
Deutsche Bank said Chorus is shifting its leasing strategy to an "asset light model," which should boost cash flow generation and improve return on invested capital.
According to Deutsche Bank, Chorus' stock "represents an attractive means to invest in a diversified business model" that provides "multiple platforms for growth" and "de-risks the balance sheet as it moves toward an asset light strategy."