06:21:52 EDT Wed 24 Jul 2024
Enter Symbol
or Name

Corus Entertainment Inc
Symbol CJR
Shares Issued 196,074,632
Close 2024-01-23 C$ 0.91
Market Cap C$ 178,427,915
Recent Sedar Documents

Globe says Chorus Aviation kept at "sector perform"

2024-01-23 08:22 ET - In the News

The Globe and Mail reports in its Tuesday edition that Scotia Capital analyst Konark Gupta has an unchanged "sector perform" recommendation on Chorus Aviation. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gupta tweaked his share target down by 20 cents to $3.30. Analysts on average target the shares at $3.67. Mr. Gupta says in a note: "Shares were materially down in 2023 but have outperformed since the market troughed on Oct. 27, 2023. We like Chorus's strategy to diversify away from Air Canada and significantly delever the balance sheet, driven by its recent acquisition of an asset-light business, Falko Regional Aircraft, which is helping the company unlock a lot of FCF (including asset sales). However, some FCF generation (sale of leased assets) is resulting in earnings erosion, while the Air Canada CPA is witnessing a contractual reduction in fixed fees through 2035 (offset by increased CPA leasing revenue and growth at Voyageur)." The Globe reported on Nov. 16, 2021, that Mr. Gupta had an unchanged "sector perform" call on Chorus when the shares could be had for $3.54. The Globe reported on Feb. 4, 2023, that Mr. Gupta had hiked Chorus to "sector outperform" when it was worth $3.87.

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