Avation PLC with ticker (LON:AVAP) now has a potential upside of 105.3% according to Canaccord Genuity.
Canaccord Genuity set a target price of 230 GBX for the company, which when compared to the Avation PLC share price of 112 GBX at opening today (07/03/2024) indicates a potential upside of 105.3%. Trading has ranged between 79 (52 week low) and 143 (52 week high) with an average of 102,181 shares exchanging hands daily. The market capitalisation at the time of writing is £79,356,911.
Avation PLC is a Singapore-based commercial passenger aircraft leasing company. The Company manages a fleet of approximately 36 aircraft. The Company leases aircraft to 17 airline customers spread across 14 countries in Europe and the Asia-Pacific region. Its customers include easyJet, Eva Air, Philippine Airlines, Alliance Air India, Vietjet Air, Fiji Airways, Mandarin Airlines, Cebu Pacific, airBaltic and Danish Air Transport. The Company’s fleet includes 13 narrow-body jets, two twin-aisle jets and 21 ATR 72 twin-engine turboprop aircraft. The Company’s fleet includes Airbus A320 and A220 aircraft, Boeing 737 NG and 777-300ER aircraft and ATR 72 aircraft. Its subsidiaries include Avation Capital S.A., Capital Lease Aviation Limited, Avation Group (S) Pte. Ltd., AVAP Leasing (Asia) Limited, AVAP Leasing (Asia) II Limited, AVAP Leasing (Asia) III Limited, AVAP Leasing (Asia) IV Limited, Capital MSN 4033 II Limited and others.
Avation PLC 105.3% potential upside indicated by Canaccord Genuity
- Written by: Charlotte Edwards
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Avation, the Singapore-based aircraft leasing company, has been assigned a 'B' long-term issuer default rating by Fitch Ratings.
Avation has been assigned a first-time B1 Corporate Family Rating and B2 issuer rating by Moody’s, with a stable outlook.
Avation has provided a trading update confirming continued fleet growth, strong rent collections, and improved aircraft values. All aircraft remain leased, with new deliveries scheduled through 2028 and further acquisitions under consideration.
Avation has signed a new six-year lease with PNG Air for an ATR 72-600 aircraft, currently operated by Mandarin Airlines.
Avation PLC announces a profitable sale of an ATR 72-600 aircraft, enhancing its orderbook and projecting strong market demand in aircraft leasing.
Avation PLC has signed a six-year lease with Colombian airline Clic Air for an ATR 72-600, marking a significant expansion into the South American market.
