Air Canada (TSE:AC) Price Target Lowered to C$25.00 at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has lowered its target price for Air Canada from C$28.00 to C$25.00 while maintaining a "buy" rating, suggesting a potential upside of 38.58% from its current stock price.
• The company's stock price experienced a decline of 1.8%, trading at C$18.04, with an average trading volume of 2,748,621 shares.
• Analysts exhibit a generally positive outlook on Air Canada, with the majority issuing a "buy" rating and a consensus target price of C$25.10.

Air Canada (TSE:AC - Get Free Report) had its target price dropped by equities researchers at Canaccord Genuity Group from C$28.00 to C$25.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price indicates a potential upside of 38.58% from the stock's current price.

Other equities research analysts also recently issued reports about the stock. Raymond James Financial raised their target price on shares of Air Canada from C$24.00 to C$27.00 and gave the company a "moderate buy" rating in a research note on Tuesday, July 22nd. Scotiabank cut their target price on shares of Air Canada from C$27.00 to C$26.00 and set an "outperform" rating for the company in a research note on Wednesday, September 3rd. Citigroup set a C$25.00 target price on shares of Air Canada and gave the company a "buy" rating in a research note on Monday, June 30th. ATB Capital raised their target price on shares of Air Canada from C$31.00 to C$32.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, National Bank Financial downgraded shares of Air Canada from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$25.10.

Air Canada Stock Down 1.8%

Shares of TSE AC traded down C$0.34 during mid-day trading on Thursday, hitting C$18.04. The company had a trading volume of 2,748,621 shares, compared to its average volume of 3,323,803. The company has a market capitalization of C$5.34 billion, a PE ratio of 4.57, a price-to-earnings-growth ratio of 0.02 and a beta of 1.73. The firm has a 50-day simple moving average of C$19.59 and a two-hundred day simple moving average of C$18.00. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00. Air Canada has a one year low of C$12.69 and a one year high of C$26.18.

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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