The Globe and Mail reports in its Wednesday, Nov. 15, edition that National Bank analyst Cameron Doerksen has reaffirmed his "outperform" recommendation for Chorus Aviation. The Globe's David Leeder writes in the Eye On Equities column that Mr. Doerksen gave his share target a 50-cent trim to $3.50. Analysts on average target the shares at $3.73. Mr. Doerksen continues to "remain positive on the overall outlook for regional aircraft leasing (market values and lease rates for regional aircraft generally trending positively) with the company's shift to an asset-light model to drive better free cash flow generation and shareholder returns as well as lower leverage in the coming years." On Nov. 8, Chorus posted revenue and adjusted EBITDA of $448-million and $113-million. Both exceeded the projections of both Mr. Doerksen ($418-million and $112-million) and the Street ($410-million and $108-million). However, reported adjusted earnings per share of six cents fell short of the 11-cent expectation due to higher interest and income tax expenses. "The company expects to close some asset sales in Q4, but will come in at the lower end of its targeted range for the year of $50-million (U.S.) to $100-million (U.S.)."