The Globe and Mail reports in its Wednesday, Feb. 18, edition that Scotia Capital analyst Konark Gupta upgraded Chorus Aviation to "sector outperform" from "sector perform" and raised his share target to $30 from $26. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $29.33. Mr. Gupta says in a note: "Our EBITDA and FCF outlook has improved. This is not a post-earnings upgrade but rather a reflection of our increased conviction in Chorus's 'ability' to keep earnings from declining going forward while at the same time generating solid cash flows to return a significant amount of capital to shareholders through buybacks and dividend growth. We had been on the sidelines for a while because we were lacking visibility on management's strategy to mitigate the declining Air Canada CPA earnings (based on the long-term contract), although we were attracted to Chorus's recent efforts to de-lever the balance sheet and initiate shareholder returns. To be clear, we currently don't forecast earnings growth over 2025 in the next four years, but we do see a solid potentials for management to deploy capital wisely toward businesses that can grow."