Air Canada (TSE:AC) Price Target Lowered to C$20.00 at Canaccord Genuity Group

Key Points

• Canaccord Genuity cut its price target on Air Canada from C$21.00 to C$20.00 and maintained a hold rating, implying roughly an 8.2% upside from the current share price.
• Several other major banks have also trimmed targets and ratings; the analyst consensus remains a Moderate Buy with a consensus price target of C$23.39.
• Air Canada shares recently traded at C$18.48 (market cap ~C$5.44B) with a low PE of 7.64, but the balance sheet shows high leverage—debt-to-equity 452.24 and a current ratio of 0.60—highlighting liquidity and debt risks.

Air Canada (TSE:AC - Get Free Report) had its target price reduced by equities researchers at Canaccord Genuity Group from C$21.00 to C$20.00 in a research report issued on Monday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 8.23% from the company's current price.

AC has been the subject of a number of other research reports. Royal Bank Of Canada decreased their price objective on shares of Air Canada from C$25.00 to C$22.00 in a research report on Monday, April 13th. TD reduced their price target on shares of Air Canada from C$23.00 to C$21.00 in a research report on Monday, April 20th. ATB Cormark Capital Markets reduced their price target on shares of Air Canada from C$33.00 to C$32.00 and set an "outperform" rating for the company in a research report on Wednesday, April 29th. Scotiabank downgraded shares of Air Canada from an "outperform" rating to a "hold" rating and reduced their price target for the stock from C$27.00 to C$21.00 in a research report on Tuesday, March 10th. Finally, Canadian Imperial Bank of Commerce reduced their price target on shares of Air Canada from C$25.00 to C$22.00 in a research report on Wednesday, April 8th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$23.39.

Air Canada Price Performance

Shares of Air Canada stock traded up C$0.22 during trading hours on Monday, reaching C$18.48. The stock had a trading volume of 2,355,762 shares, compared to its average volume of 3,098,683. The stock's 50 day moving average is C$18.51 and its 200 day moving average is C$18.91. The firm has a market capitalization of C$5.44 billion, a PE ratio of 7.64, a PEG ratio of 0.02 and a beta of 1.63. Air Canada has a twelve month low of C$14.55 and a twelve month high of C$23.72. The company has a current ratio of 0.60, a quick ratio of 1.06 and a debt-to-equity ratio of 452.24.

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.

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