Scotiabank Reiterates a Buy Rating on Chorus Aviation

By Ryan Adsit

Yesterday, an analyst has provided a rating update for the Services sector company, Chorus Aviation (TSX: CHR). The company received a Buy rating from Scotiabank’s analyst Turan Quettawala, with a C$11 price target.

According to TipRanks.com, Quettawala is a 2-star analyst with an average return of 1.2% and a 58.3% success rate. Quettawala covers the Services sector, focusing on stocks such as Union Pacific Corp, Canadian Railway, and Canadian Pacific.

Currently, the analyst consensus on Chorus Aviation is Strong Buy and the average price target is C$10.83, representing a 31.3% upside.

In a report released yesterday, CIBC also reiterated a Buy rating on the stock with a C$11 price target.

The company has a one-year high of C$9.86 and a one-year low of C$7.13. Currently, Chorus Aviation has an average volume of 525.2K.

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 Wednesday at C$8.25.