Scotiabank Reaffirms Their Buy Rating on Chorus Aviation (CHR)

By Jason Carr

Today, an analyst has provided a rating update for the Services sector company, Chorus Aviation (CHRResearch Report). Analyst Turan Quettawala from Scotiabank reiterated a Buy rating, with a C$9.50 price target.

According to TipRanks.com, Quettawala is a 4-star analyst with an average return of 3.5% and a 65.4% success rate. Quettawala covers the Services sector, focusing on stocks such as WestJet Airlines Ltd, Union Pacific Corp, and Canadian Railway.

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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Chorus Aviation with a C$9.92 average price target, implying a 29.8% upside from current levels. In a report issued on February 20, Paradigm also maintained a Buy rating on the stock with a C$10 price target.

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Based on Chorus Aviation’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$43.72 million. In comparison, last year the company had a net profit of C$19.74 million.

Chorus Aviation, Inc. is a holding company, which provides aviation services. It offers ground handling, airline training, operational start-up assistance, consultancy and operational support services through its subsidiary, Jazz Aviation LP. Chorus Aviation was founded on September 27, 2010 and is headquartered in Toronto, Canada.

The company’s shares closed on Friday at C$7.64.