Air Canada (TSE:AC) Price Target Raised to C$45.00 at ATB Cormark Capital Markets

Key Points

• ATB Cormark raised Air Canada’s price target to C$45.00 from C$32.00 and maintained an “outperform” rating, implying 47.59% upside from the stock’s then-current price.
• Analyst sentiment is broadly positive: seven analysts rate the stock a Buy and three rate it a Hold, resulting in a consensus “Moderate Buy” rating and a C$29.88 average price target.
• Air Canada shares traded down 0.4% to C$30.49, while the company reported quarterly EPS of C$0.40 and revenue of C$6.27 billion.

Air Canada (TSE:AC - Get Free Report) had its price objective upped by research analysts at ATB Cormark Capital Markets from C$32.00 to C$45.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price target suggests a potential upside of 47.59% from the stock's current price.

A number of other analysts have also weighed in on the company. Scotiabank upgraded Air Canada from a "hold" rating to a "sector outperform" rating and upped their target price for the stock from C$26.00 to C$33.50 in a report on Tuesday. JPMorgan Chase & Co. cut their price target on Air Canada from C$27.00 to C$23.00 in a report on Monday, May 4th. Stifel Nicolaus boosted their price target on Air Canada from C$25.50 to C$30.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Canaccord Genuity Group upped 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, TD decreased their price objective on Air Canada from C$23.00 to C$21.00 in a research note on Monday, April 20th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$29.88.

Air Canada Stock Down 0.4%

Shares of AC traded down C$0.12 during mid-day trading on Thursday, hitting C$30.49. The company's stock had a trading volume of 2,359,806 shares, compared to its average volume of 2,963,073. The company's 50-day moving average is C$24.12 and its 200-day moving average is C$20.97. Air Canada has a 52-week low of C$16.45 and a 52-week high of C$31.45. The firm has a market capitalization of C$8.75 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.02 and a beta of 2.02. 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 earnings per share (EPS) for the quarter. The firm had revenue of C$6.27 billion for the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. On average, equities research analysts forecast 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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