Ord Minnett sees earnings power on Australia's Alliance Aviation, raises PT

Alliance Aviation Services

14/07/2023 01:08

** Analysts at Ord Minnett raise price target on Australia's
Alliance Aviation Services  AQZ.AX  stock to A$4.50 per share
from A$4.40 
    ** The airline operator said on Thursday it now expects
underlying FY23 net profit after tax to be A$56.9 mln ($38.66
mln), compared with previous forecast of A$50 mln to A$55 mln
    ** FY23 earnings outlook provided by co was comfortably
above our expectations - Brokerage
    ** Brokerage further sees "powerful" earnings for the
airline operator in FY24 on the back of a strong current fleet
as well as a ramp-up of additional jets from March-2024 quarter
    ** Stock up 2.2% this year, as of last close 
    

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))