Canadian Helicopters Group Inc T.CHL.A

upgraded to 35.00

[itsalie]

Canadian Helicopters Group Inc. (CHL.A-T31.241.535.15%) blew past expectations in reporting fourth-quarter results, with adjusted earnings per share of 78 cents almost double the average analyst forecast. Desjardins Securities Inc. analyst Benoit Poirier believes the company could exit 2012 debt-free based on its strong cash flows, which will position the company well for further acquisitions.

Upside: Mr. Poirier raised his price target by $2 to $35 and maintained a “buy” rating.

https://www.theglobeandmail.com/globe-investor/investment-ideas/features/eye-on-equities/analysts-hike-price-targets-on-agf-canadian-helicopters/article2385744/

[RomaneeConti]

Let's see...a price of $35 divided by trailing earnings of $3.84 is a 9x multiple. Will earnings grow in fiscal 2012? Consider that the New Zealand Helicopter contribution began in Sept 2011. Oil support business is strengthened. Afghanistan is still going, although the long term expectation for that is doubtful to me. I've got a hunch $35 will be an easy one. Anybody else agree?