The 1H result and FY22 guidance were weaker than Morgans had expected for Alliance Aviation Services. Investors are reminded that the broker's investment thesis was predicated on upcoming strong FY23 earnings growth, which is still expected.

The forecast growth will result from the material fleet expansion to-date, explains the analyst. The Add rating is unchanged, while the target falls to $5.05 from $5.15.

Sector: Transportation.

Target price is $5.05.Current Price is $3.75. Difference: $1.30 - (brackets indicate current price is over target). If AQZ meets the Morgans target it will return approximately 26% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena