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

Key Points

• TD raised its price target for Chorus Aviation from C$33.00 to C$34.00 and maintained a “buy” rating, implying 21.91% upside from the stock’s current price.
• Analyst sentiment is broadly positive: Scotia, Stifel Nicolaus, BMO Capital Markets and RBC all raised their targets, while nine analysts rate Chorus Aviation a Buy. The consensus target is C$32.39.
• Chorus shares rose 3.3% to C$27.89, near their 12-month high, after the company reported C$0.83 in quarterly EPS on C$349.42 million in revenue.

Chorus Aviation (TSE:CHR - Get Free Report) had its target price raised by TD from C$33.00 to C$34.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD's price target would suggest a potential upside of 21.91% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Scotia lifted their price target on shares of Chorus Aviation from C$31.00 to C$33.50 and gave the company a "sector outperform" rating in a research note on Thursday. Stifel Nicolaus raised their target price on Chorus Aviation from C$32.00 to C$33.00 and gave the company a "buy" rating in a research note on Thursday. BMO Capital Markets boosted their target price on Chorus Aviation from C$28.00 to C$32.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Royal Bank Of Canada boosted their target price on Chorus Aviation from C$35.00 to C$39.00 and gave the company an "outperform" rating in a research report on Thursday. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Chorus Aviation currently has an average rating of "Buy" and an average target price of C$32.39.

Chorus Aviation Trading Up 3.3%

CHR traded up C$0.89 during trading on Thursday, hitting C$27.89. The company's stock had a trading volume of 123,757 shares, compared to its average volume of 37,640. The firm has a market capitalization of C$640.97 million, a P/E ratio of 10.73, a PEG ratio of 0.65 and a beta of 1.77. Chorus Aviation has a twelve month low of C$19.56 and a twelve month high of C$27.90. The stock's fifty day moving average price is C$24.55 and its 200-day moving average price is C$23.51. The company has a quick ratio of 0.53, a current ratio of 1.38 and a debt-to-equity ratio of 76.81.

Chorus Aviation (TSE:CHR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported C$0.83 EPS for the quarter. Chorus Aviation had a net margin of 5.16% and a return on equity of 12.73%. The company had revenue of C$349.42 million during the quarter. Analysts anticipate that Chorus Aviation will post 0.3 EPS for the current year.

Chorus Aviation Company Profile

Chorus is a holding company which owns the following principal operating subsidiaries: 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; Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines; and Elisen & Associates, a leading provider of aerospace engineering and certification services.

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