Air Canada (TSE:AC) Price Target Cut to C$21.00 by Analysts at TD

Key Points

• TD cut its price target on Air Canada from C$23.00 to C$21.00 (about an 11% upside from the prior close), while analyst views are mixed — the consensus is a "Moderate Buy" with a consensus target of C$23.69 and five Buy vs. five Hold ratings.
• Shares trade around C$18.91 (recent intraday price), with a market cap of C$5.57 billion, a P/E of 10.17 and a very high debt-to-equity ratio of 446.78, indicating significant leverage on the balance sheet.

Air Canada (TSE:AC - Get Free Report) had its price target lowered by equities research analysts at TD from C$23.00 to C$21.00 in a note issued to investors on Monday,BayStreet.CA reports. TD's price target indicates a potential upside of 11.05% from the company's previous close.

Several other analysts have also weighed in on AC. Canaccord Genuity Group lowered Air Canada from a "buy" rating to a "hold" rating and decreased their price objective for the stock from C$28.00 to C$21.00 in a report on Friday, March 13th. Stifel Nicolaus lifted their price objective on Air Canada from C$24.00 to C$28.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce decreased their price objective on Air Canada from C$25.00 to C$22.00 in a report on Wednesday, April 8th. National Bank Financial decreased their price target on Air Canada from C$25.00 to C$22.00 in a research note on Thursday, April 2nd. Finally, Raymond James Financial lowered Air Canada from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Air Canada currently has a consensus rating of "Moderate Buy" and a consensus target price of C$23.69.

Air Canada Stock Performance

Shares of TSE:AC traded down C$0.05 during trading on Monday, hitting C$18.91. 1,546,068 shares of the stock were exchanged, compared to its average volume of 3,100,661. Air Canada has a 1-year low of C$13.65 and a 1-year high of C$23.72. The company has a market capitalization of C$5.57 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 0.02 and a beta of 1.56. The company's fifty day simple moving average is C$18.84 and its 200-day simple moving average is C$18.89. The company has a debt-to-equity ratio of 446.78, a quick ratio of 1.06 and a current ratio of 0.56.

About Air Canada

Air Canada is Canada's largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.