The Globe and Mail reports in its Friday edition that Chorus Aviation ($7.12) is one of National Bank's top-yielding stock picks for 2019. The Globe's Jennifer Dowty writes that Chorus is headquartered in Halifax. Ms. Dowty notes that Chorus is the largest regional airline in the country. National analyst Cameron Doerksen believes the stock may deliver a total return (including the 6.7-per-cent dividend yield) of over 30 per cent in the year ahead. Mr. Doerksen notes that the company has predictable, long-term cash flows through its capacity purchase agreement with Air Canada, which pays Chorus a fixed fee and fuel costs are passed through to Air Canada. The analyst applies a nine times multiple to his 2020 earnings estimate to arrive at his $9 price target. The Globe's guest columnist Emily Halverson-Duncan recommended buying Chorus Aviation in the Number Cruncher column on Oct. 3, 2018. In the item she said the shares were undervalued. The shares were then worth $7.41. The Globe reported on Nov. 14, 2018, that Waypoint Investment Partners manager Ryan Marr was keen on Chorus. He said Chorus was trading at a substantial discount to its peers despite returns that were comparable. The shares were then worth $7.34.
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