01:15 PM EDT, 10/15/2024 (MT Newswires) -- National Bank has raised its one year target on Exchange Income ( EIFZF ) by $1, to $61, and reiterated its Outperform rating, ahead of the company reporting its fiscal third quarter results.

Analyst Cameron Doerksen notes that EIC has seen strong organic growth so far this year driven largely by new contracts awarded last year. He expects that trend to continue through the remainder of the year and into 2025 as new medevac contracts in B.C. and Manitoba continue to ramp and the company also benefits from its contract flying for Air Canada. EIC's PAL Aerospace and Air Borealis subsidiaries were recently awarded a new medevac contract in Newfoundland & Labrador that will drive further growth later in 2025.

Exchange Income ( EIFZF ) reports its third quarter results on November 7.

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