Air Canada (TSE:AC) Price Target Raised to C$38.00

Key Points

• Stifel Nicolaus raised Air Canada’s price target to C$38.00 from C$30.00 and maintained a “buy” rating, implying 29.12% upside from the prior close.
• Analyst sentiment is broadly positive: eight analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average target of C$32.29.
• Air Canada shares fell 1.6% to C$29.43 in Wednesday trading. The airline recently reported quarterly EPS of C$0.40 and revenue of C$6.27 billion.

Air Canada (TSE:AC - Get Free Report) had its price target lifted by stock analysts at Stifel Nicolaus from C$30.00 to C$38.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' target price suggests a potential upside of 29.12% from the stock's previous close.

AC has been the subject of several other research reports. JPMorgan Chase & Co. lowered their target price on shares of Air Canada from C$27.00 to C$23.00 in a research note on Monday, May 4th. Scotiabank raised shares of Air Canada from a "hold" rating to a "sector outperform" rating and boosted their price target for the company from C$26.00 to C$33.50 in a report on Tuesday, August 11th. ATB Cormark Capital Markets upped their price objective on shares of Air Canada from C$32.00 to C$45.00 and gave the company an "outperform" rating in a research report on Thursday, August 13th. Canaccord Genuity Group raised their price objective on Air Canada from C$20.00 to C$26.00 and gave the stock a "hold" rating in a research note on Monday, July 6th. Finally, Royal Bank Of Canada lifted their target price on Air Canada from C$28.00 to C$37.00 and gave the stock an "outperform" rating in a report on Thursday, August 13th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$32.29.

Air Canada Trading Down 1.6%

TSE:AC traded down C$0.47 during mid-day trading on Wednesday, hitting C$29.43. The company had a trading volume of 998,427 shares, compared to its average volume of 2,948,172. The company has a debt-to-equity ratio of 478.10, a quick ratio of 1.05 and a current ratio of 0.60. Air Canada has a fifty-two week low of C$16.45 and a fifty-two week high of C$31.45. The firm has a market cap of C$8.24 billion, a P/E ratio of 22.47, a P/E/G ratio of 0.02 and a beta of 2.02. The business's fifty day moving average is C$24.81 and its two-hundred day moving average is C$21.27.

Air Canada (TSE:AC - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported C$0.40 earnings per share (EPS) for the quarter. The company had revenue of C$6.27 billion during the quarter. Air Canada had a return on equity of 16.92% and a net margin of 1.82%. As a group, research analysts expect that Air Canada will post 2.5789474 earnings per share for the current year.

About Air Canada

Air Canada is Canada's largest airline, the country's flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada's Aeroplan program is Canada's premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world's largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.

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