Air Canada (TSE:AC) Price Target Lowered to C$27.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has lowered its price target for Air Canada shares from C$28.00 to C$27.00, indicating a potential upside of 47.14% from the stock's previous close.
• Other analysts have also reduced their price targets, with National Bankshares setting a target of C$22.00 and Stifel Nicolaus at C$24.00, while the overall consensus price target sits at C$24.78.
• Air Canada's stock has recently experienced a slight decline, trading down 0.6% to C$18.35, amidst a market capitalization of C$5.43 billion and a significant debt-to-equity ratio of 400.00.

Air Canada (TSE:AC - Get Free Report) had its target price cut by research analysts at BMO Capital Markets from C$28.00 to C$27.00 in a research note issued on Thursday,BayStreet.CA reports. BMO Capital Markets' price target indicates a potential upside of 47.14% from the stock's previous close.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus decreased their price objective on shares of Air Canada from C$25.00 to C$24.00 and set a "buy" rating for the company in a research report on Friday, September 26th. National Bankshares cut shares of Air Canada from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from C$26.00 to C$22.00 in a research note on Wednesday, September 24th. Scotiabank dropped their price objective 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. Canaccord Genuity Group decreased their target price on shares of Air Canada from C$28.00 to C$25.00 and set a "buy" rating on the stock in a report on Thursday, September 25th. Finally, CIBC decreased their price target on shares of Air Canada from C$24.00 to C$22.00 and set an "outperform" rating on the stock in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Air Canada presently has an average rating of "Moderate Buy" and a consensus price target of C$24.78.

Air Canada Stock Down 0.6%

Shares of AC stock traded down C$0.11 during trading hours on Thursday, hitting C$18.35. 1,264,739 shares of the company were exchanged, compared to its average volume of 3,282,749. The business has a 50 day moving average of C$18.94 and a two-hundred day moving average of C$18.18. 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 52 week low of C$12.69 and a 52 week high of C$26.18. The company has a market capitalization of C$5.43 billion, a PE ratio of 4.65, a PEG ratio of 0.02 and a beta of 1.62.

Air Canada Company Profile

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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