In the good books
ALLIANCE AVIATION SERVICES (AQZ) was upgraded to Buy from Hold by Ord Minnett
Ord Minnett believes there are some important offsetting factors that will assist Alliance Aviation in the current crisis. Firstly, fly-in, fly-out and contract hours are growing as mining companies take additional measures to prevent outbreaks of the virus on site. Charter revenue remains strong and the fleet is deployed. As the stock is trading at a -20% discount to net tangible assets Ord Minnett upgrades to Buy from Hold. Target is reduced to $1.80 from $2.60. This stock is not covered in-house by Ord Minnett. Instead, the broker white labels research by JP Morgan.