Scotiabank Forecasts Strong Price Appreciation for Chorus Aviation (TSE:CHR) Stock

Key Points

• Scotiabank has increased its price target for Chorus Aviation from C$23.50 to C$24.00, indicating a potential upside of 15.05% from its current price.
• Other analysts, including TD Securities and Royal Bank of Canada, have also raised their price targets, with the consensus rating for the stock being a "Moderate Buy."
• Chorus Aviation's stock has experienced a range of C$16.87 to C$24.08 over the past 12 months, currently trading at C$20.86.

Chorus Aviation (TSE:CHR - Get Free Report) had its price objective increased by analysts at Scotiabank from C$23.50 to C$24.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Scotiabank's price target suggests a potential upside of 15.05% from the company's current price.

Other equities research analysts have also issued reports about the company. TD Securities raised their price objective on Chorus Aviation from C$27.00 to C$29.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Royal Bank Of Canada increased their target price on shares of Chorus Aviation from C$25.00 to C$27.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, CIBC upped their price target on shares of Chorus Aviation from C$28.00 to C$29.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$17.24.

Chorus Aviation Price Performance

Shares of Chorus Aviation stock traded down C$0.60 during trading hours on Thursday, hitting C$20.86. The company's stock had a trading volume of 87,343 shares, compared to its average volume of 50,068. The company has a debt-to-equity ratio of 118.79, a quick ratio of 0.53 and a current ratio of 1.13. Chorus Aviation has a 12-month low of C$16.87 and a 12-month high of C$24.08. The business has a 50 day moving average price of C$21.77 and a two-hundred day moving average price of C$18.62. The company has a market cap of C$566.56 million, a PE ratio of -34.44, a PEG ratio of 0.65 and a beta of 2.14.

About Chorus Aviation

Chorus is an aviation solutions provider to customers worldwide. Its operating subsidiaries are: Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines.

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