Avation PLC with ticker (LON:AVAP) now has a potential upside of 44.9% according to Canaccord Genuity.
AVAP.L
Canaccord Genuity set a target price of 255 GBX for the company, which when compared to the Avation PLC share price of 176 GBX at opening today (04/11/2024) indicates a potential upside of 44.9%. Trading has ranged between 102 (52 week low) and 192 (52 week high) with an average of 404,054 shares exchanging hands daily. The market capitalisation at the time of writing is £123,414,339.
Avation PLC is a Singapore-based commercial passenger aircraft leasing company. The Company is engaged in managing a fleet of widebody, narrowbody jet and turboprop aircraft which it leases to airlines across the world. It manages a fleet of approximately 34 aircraft. The Company’s portfolio of fleet includes Boeing 777-300ER, Airbus A330-300, Airbus A321-200, Airbus A320-200, Airbus A220-300, ATR 72-600, and ATR 72-500. The Company’s customers include over 16 commercial airlines in 14 countries. Its customers include EasyJet, EVA Air, Philippine Airlines, Alliance Air India, VietJet Air, Fiji Airways, Mandarin Airlines, Cebu Pacific, airBaltic, Danish Air Transport, Aerlink, PNG Air and Braathens, among others. 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 44.9% potential upside indicated by Canaccord Genuity
- Written by: Charlotte Edwards
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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.
Avation PLC has successfully acquired an Airbus A320 on long-term lease to Etihad Airlines, expanding its fleet to 33 aircraft and enhancing customer diversity.
