Alliance Aviation Services is set to report another record when reporting FY24 results on August 14, highlights Morgans. It's felt the consensus underlying profit (NPBT) of $83.9m will be exceeded.

The analysts forecast forecast $85.5m, up from $56.9m in the previous corresponding period.

Within the broker's coverage of airlines, Alliance is preferred over Qantas Airways given its superior contract business model and stronger organic earnings growth profile.

The Add rating and $4.75 target are retained.

Sector: Transportation.

Target price is $4.75.Current Price is $3.08. Difference: $1.67 - (brackets indicate current price is over target). If AQZ meets the Morgans target it will return approximately 35% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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