The Globe and Mail reports in its Tuesday edition that Scotia Capital analyst Konark Gupta has reaffirmed his "sector perform" recommendation for Chorus Aviation. The Globe's David Leeder writes that Mr. Gupta tweaked his share target down by 30 cents to $3. Analysts on average target the shares at $3.62. Mr. Gupta says in a note: "Chorus Aviation ended 2023 on a strong note, topping guidance and expectations. However, the stock pulled back 6.6 per cent as the market likely focused on EPS miss and underwhelming 2024 guidance relative to consensus, while likely ignoring that cash flow conversion will accelerate this year. Management noted that consistent with its asset light strategy, revenue and earnings are expected to decline, but cash flows remain strong. This is due to ongoing deleveraging, driven by asset sales and re-leasing of some aircraft with reduced or no debt. Management also provided more visibility on Fund III closing. We have trimmed our EBITDA and EPS estimates while improving FCF forecasts, which resulted in a net reduction in our target." The Globe reported on Feb. 4, 2023, and Jan. 23, 2024, that Mr. Gupta rated Chorus "sector outperform" and then "sector perform" when it was worth $3.87 and $2.43.