Chorus Aviation initiated with a Buy at Stifel

Stifel initiated coverage of Chorus Aviation (CHRRF) with a Buy rating and C$31 price target. The firm believes investors are underappreciating the value of the contractual cash flows associated with Chorus’ capacity purchase agreement with Air Canada (ACDVF) out to 2035 and the related optionality for capital deployment. While the company is working through a transition period following the divestiture of its third-party leasing business, the company has used this period of dislocation to repurchase roughly 14% of its shares in 2025, the analyst tells investors in a research note.