Air Canada (TSE:AC) Price Target Raised to C$40.00

Key Points

• National Bank Financial raised Air Canada’s price target to C$40.00 from C$29.00 and maintained an “outperform” rating, implying approximately 31.19% upside from the reported trading price.
• Analyst sentiment is broadly positive: seven analysts rate the stock a Buy and three rate it a Hold, resulting in a “Moderate Buy” consensus and an average price target of C$29.88.
• Air Canada shares slipped 0.4% to C$30.49 during Thursday trading. The company most recently reported C$0.40 in quarterly EPS on C$6.27 billion in revenue.

Air Canada (TSE:AC - Get Free Report) had its target price raised by investment analysts at National Bank Financial from C$29.00 to C$40.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's target price points to a potential upside of 31.19% from the stock's current price.

A number of other equities research analysts also recently issued reports on AC. BMO Capital Markets boosted their price target on Air Canada from C$30.00 to C$37.00 and gave the company an "outperform" rating in a research report on Wednesday. ATB Cormark Capital Markets cut their price objective on Air Canada from C$33.00 to C$32.00 and set an "outperform" rating on the stock in a report on Wednesday, April 29th. TD reduced their price objective on Air Canada from C$23.00 to C$21.00 in a research note on Monday, April 20th. JPMorgan Chase & Co. decreased their target price on Air Canada from C$27.00 to C$23.00 in a report on Monday, May 4th. Finally, UBS Group increased their target price on shares of Air Canada from C$24.00 to C$33.00 in a research report on Thursday. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$29.88.

Air Canada Trading Down 0.4%

Shares of AC traded down C$0.12 during mid-day trading on Thursday, reaching C$30.49. The company had a trading volume of 2,359,806 shares, compared to its average volume of 2,963,073. The stock has a market cap of C$8.75 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.02 and a beta of 2.02. The firm has a fifty day simple moving average of C$24.12 and a 200-day simple moving average of C$20.97. Air Canada has a fifty-two week low of C$16.45 and a fifty-two week high of C$31.45. The company has a current ratio of 0.60, a quick ratio of 1.05 and a debt-to-equity ratio of 452.24.

Air Canada (TSE:AC - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported C$0.40 EPS for the quarter. The business had revenue of C$6.27 billion during the quarter. Air Canada had a return on equity of 34.23% and a net margin of 3.46%. On average, sell-side analysts anticipate that Air Canada will post 2.5789474 EPS for the current fiscal 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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